Horizon Wealth Management LLC Has $1.33 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Horizon Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the first quarter, Holdings Channel.com reports. The fund owned 5,424 shares of the financial services provider’s stock after buying an additional 83 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.2% of Horizon Wealth Management LLC’s holdings, making the stock its 28th largest holding. Horizon Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First National Corp MA ADV grew its holdings in JPMorgan Chase & Co. by 5.4% during the first quarter. First National Corp MA ADV now owns 4,433 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 229 shares during the period. Constitution Capital LLC grew its holdings in JPMorgan Chase & Co. by 4.1% during the first quarter. Constitution Capital LLC now owns 39,542 shares of the financial services provider’s stock worth $9,700,000 after purchasing an additional 1,545 shares during the period. Udine Wealth Management Inc. grew its holdings in JPMorgan Chase & Co. by 5.7% during the first quarter. Udine Wealth Management Inc. now owns 32,794 shares of the financial services provider’s stock worth $8,044,000 after purchasing an additional 1,771 shares during the period. Pines Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 0.4% during the first quarter. Pines Wealth Management LLC now owns 20,071 shares of the financial services provider’s stock worth $4,923,000 after purchasing an additional 79 shares during the period. Finally, Sovereign Financial Group Inc. grew its holdings in JPMorgan Chase & Co. by 6.8% during the first quarter. Sovereign Financial Group Inc. now owns 6,679 shares of the financial services provider’s stock worth $1,638,000 after purchasing an additional 424 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer now owns 62,455 shares of the company’s stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,722 shares of company stock worth $25,599,477 over the last three months. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating for the company. Truist Financial lifted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Morgan Stanley restated an “equal weight” rating on shares of JPMorgan Chase & Co. in a report on Monday. Robert W. Baird upped their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $267.15.

JPMorgan Chase & Co. Trading Up 1.5%

Shares of NYSE:JPM opened at $265.81 on Friday. The company has a market capitalization of $738.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business’s 50 day simple moving average is $247.68 and its 200 day simple moving average is $249.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the company earned $4.44 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.