Horizon Wealth Management LLC Has $1.52 Million Stake in JPMorgan Chase & Co. $JPM

Horizon Wealth Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,242 shares of the financial services provider’s stock after selling 182 shares during the quarter. Horizon Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares during the period. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 100 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the period. Macroview Investment Management LLC boosted its stake in JPMorgan Chase & Co. by 14.9% during the 1st quarter. Macroview Investment Management LLC now owns 996 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 129 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in JPMorgan Chase & Co. by 15.3% during the 1st quarter. HM Payson & Co. now owns 382,010 shares of the financial services provider’s stock worth $93,707,000 after acquiring an additional 50,664 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research note on Tuesday, September 23rd. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Finally, Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $314.30 on Friday. The stock has a 50 day moving average price of $306.18 and a 200 day moving average price of $287.28. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $864.26 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.37 EPS. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

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.