Abner Herrman & Brock LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 220,707 shares of the financial services provider’s stock after selling 15,009 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.8% of Abner Herrman & Brock LLC’s holdings, making the stock its 4th biggest position. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $25,975,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Personal Wealth Partners acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $28,000. MRA Associates USA LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $30,000. Global Trust Asset Management LLC grew its position in JPMorgan Chase & Co. by 2,027.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 5,068 shares during the period. Titan Capital Management LLC CA acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $35,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $56,000. 71.89% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Wells Fargo & Co set a $125.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 16th. Credit Suisse Group set a $135.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday. Goldman Sachs Group reaffirmed a “neutral” rating and set a $117.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Buckingham Research downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Monday, September 16th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $122.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $122.59.
In related news, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the transaction, the insider now directly owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mellody L. Hobson purchased 18,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the purchase, the director now directly owns 7,804 shares in the company, valued at approximately $857,737.64. The disclosure for this purchase can be found here. Corporate insiders own 0.76% of the company’s stock.
Shares of JPM stock traded up $2.66 during mid-day trading on Friday, hitting $116.87. 1,020,635 shares of the stock were exchanged, compared to its average volume of 11,492,522. The firm has a fifty day moving average of $113.95 and a 200 day moving average of $111.37. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a 52-week low of $91.11 and a 52-week high of $120.40. The company has a market cap of $357.54 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.52 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts predict that JPMorgan Chase & Co. will post 9.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.90 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, October 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 40.00%.
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 and investment products 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, payment processing, auto loan, and leasing services.
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