Horizon Bancorp Inc. IN Acquires 1,290 Shares of JPMorgan Chase & Co. $JPM

Horizon Bancorp Inc. IN raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 51.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,790 shares of the financial services provider’s stock after buying an additional 1,290 shares during the period. JPMorgan Chase & Co. comprises about 0.6% of Horizon Bancorp Inc. IN’s holdings, making the stock its 24th largest position. Horizon Bancorp Inc. IN’s holdings in JPMorgan Chase & Co. were worth $1,099,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $37,000. Christopher J. Hasenberg Inc raised its holdings 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 valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $76,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM opened at $297.81 on Friday. The company has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $302.82 and a 200-day moving average price of $278.77. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the company earned $4.37 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on JPM. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $319.40.

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.