Horan Securities Inc. Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 3rd, 2023

Horan Securities Inc. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,697 shares of the financial services provider’s stock after acquiring an additional 149 shares during the quarter. Horan Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $26,000. Adirondack Retirement Specialists Inc. boosted its stake in shares of JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $30,000. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $145.44 on Monday. The firm has a market capitalization of $425.02 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $146.00. The stock’s fifty day moving average is $138.75 and its 200-day moving average is $136.81.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $2.63 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 14.53 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.75%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now owns 282,091 shares of the company’s stock, valued at $38,054,075.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $134.90, for a total value of $665,326.80. Following the transaction, the chief executive officer now directly owns 282,091 shares of the company’s stock, valued at approximately $38,054,075.90. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock valued at $19,858,275 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Credit Suisse Group upped their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 18th. They set a “hold” rating on the stock. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Finally, The Goldman Sachs Group upped their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.35.

JPMorgan Chase & Co. Profile

(Free Report)

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.