Horizon Wealth Management LLC Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Horizon Wealth Management LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,840 shares of the financial services provider’s stock after selling 188 shares during the period. JPMorgan Chase & Co. accounts for about 0.2% of Horizon Wealth Management LLC’s holdings, making the stock its 27th biggest position. Horizon Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $979,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Wellington Wealth Strategies LLC. purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,145,000. Cooper Financial Group grew its stake in JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares in the last quarter. Spartan Planning & Wealth Management grew its stake in JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares in the last quarter. jvl associates llc grew its stake in JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 715 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.4 %

NYSE:JPM traded down $0.83 during midday trading on Tuesday, reaching $214.62. 2,195,941 shares of the stock traded hands, compared to its average volume of 9,157,641. The company has a fifty day moving average of $204.99 and a 200 day moving average of $196.00. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The stock has a market capitalization of $616.32 billion, a P/E ratio of 12.00, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period in the prior year, the business posted $4.37 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JPM. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Robert W. Baird boosted their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

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.