Abner Herrman & Brock LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Abner Herrman & Brock LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,186 shares of the financial services provider’s stock after selling 3,962 shares during the period. JPMorgan Chase & Co. accounts for about 3.0% of Abner Herrman & Brock LLC’s holdings, making the stock its 11th largest holding. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $17,588,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JPM. Sandy Cove Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 8.5% in the 1st quarter. Sandy Cove Advisors LLC now owns 4,137 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 324 shares during the last quarter. Clarity Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 10.2% in the 1st quarter. Clarity Wealth Advisors LLC now owns 20,997 shares of the financial services provider’s stock valued at $2,862,000 after purchasing an additional 1,944 shares during the last quarter. Financial Strategies Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 20.0% in the 1st quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 916 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock valued at $5,134,000 after purchasing an additional 557 shares during the last quarter. Finally, Cordant Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $47,000. 68.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JPM shares. Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and reduced their target price for the company from $145.00 to $135.00 in a report on Tuesday, July 12th. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, July 15th. Wells Fargo & Company reduced their price objective on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Jefferies Financial Group set a $117.00 price objective on JPMorgan Chase & Co. in a research note on Monday, September 12th. Finally, UBS Group reduced their price objective on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.95.

JPMorgan Chase & Co. Stock Performance

JPM opened at $111.21 on Friday. The stock has a market cap of $326.13 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.04 and a beta of 1.10. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $116.09 and its 200 day simple moving average is $122.16. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The firm had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.78 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 11.33 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

JPMorgan Chase & Co. Profile

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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