Horizon Wealth Management LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Horizon Wealth Management LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,028 shares of the financial services provider’s stock after purchasing an additional 173 shares during the period. JPMorgan Chase & Co. accounts for 0.3% of Horizon Wealth Management LLC’s holdings, making the stock its 29th biggest position. Horizon Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co of the South boosted its holdings in JPMorgan Chase & Co. by 1.1% in the 1st quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after purchasing an additional 53 shares during the period. PFW Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 1.1% in the 1st quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 55 shares during the period. Murphy Middleton Hinkle & Parker Inc. boosted its holdings in JPMorgan Chase & Co. by 2.0% in the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 55 shares during the period. Oarsman Capital Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 59 shares during the period. Finally, Curbstone Financial Management Corp boosted its holdings in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Beer sold 5,298 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now directly owns 46,375 shares in the company, valued at approximately $9,304,680. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock valued at $46,962,717 in the last quarter. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $208.69 on Friday. The firm has a market cap of $599.29 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 2.80 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $210.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $197.87 and its two-hundred day simple moving average is $187.03.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.45 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Robert W. Baird raised their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $194.65.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.