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

Horizon Bancorp Inc. IN grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,761 shares of the financial services provider’s stock after purchasing an additional 49 shares during the period. JPMorgan Chase & Co. comprises 0.3% of Horizon Bancorp Inc. IN’s investment portfolio, making the stock its 26th largest position. Horizon Bancorp Inc. IN’s holdings in JPMorgan Chase & Co. were worth $662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Investment Group LTD. boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the fourth quarter. Cullen Investment Group LTD. now owns 101,499 shares of the financial services provider’s stock valued at $24,330,000 after buying an additional 313 shares during the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $498,000. Marcum Wealth LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.8% during the 4th quarter. Marcum Wealth LLC now owns 35,185 shares of the financial services provider’s stock valued at $8,434,000 after acquiring an additional 628 shares during the last quarter. Traveka Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 30.4% in the fourth quarter. Traveka Wealth LLC now owns 6,570 shares of the financial services provider’s stock worth $1,575,000 after acquiring an additional 1,532 shares during the period. Finally, CHB Investment Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $210,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.3 %

JPM opened at $247.35 on Wednesday. The stock has a market cap of $696.37 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s fifty day moving average is $242.60 and its 200 day moving average is $223.51. JPMorgan Chase & Co. has a fifty-two week low of $164.30 and a fifty-two week high of $254.31.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Ratings Changes

A number of equities research analysts have commented on JPM shares. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Profile

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.