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

Horizon Wealth Management LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc grew its stake in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3%

Shares of JPM opened at $314.30 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $864.26 billion, a PE ratio of 15.57, a PEG ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a 50 day simple moving average of $306.18 and a 200-day simple moving average of $287.28.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. TD Cowen lifted their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.38.

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.