Horizon Bancorp Inc. IN Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Horizon Bancorp Inc. IN grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the first quarter, HoldingsChannel reports. The firm owned 2,354 shares of the financial services provider’s stock after purchasing an additional 66 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in JPMorgan Chase & Co. were worth $472,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $6,016,878,000. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $1,017,893,000. Wellington Management Group LLP lifted its stake in shares of JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Capital International Investors lifted its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,565 shares of company stock valued at $46,962,717. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $205.08 on Tuesday. 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 firm’s 50-day moving average price is $198.64 and its two-hundred day moving average price is $187.99. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $210.38. The stock has a market capitalization of $588.92 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.74 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.47 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Evercore ISI restated an “outperform” rating and set a $210.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $195.95.

About JPMorgan Chase & Co.

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.