Abner Herrman & Brock LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,707 shares of the financial services provider’s stock after selling 15,009 shares during the period. JPMorgan Chase & Co. makes up about 3.8% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 4th largest holding. 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 have also modified their holdings of JPM. Semmax Financial Advisors Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $56,000. Stamos Capital Partners L.P. bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $5,008,000. ERTS Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $177,000. Genesee Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $920,000. Finally, CapWealth Advisors LLC increased its position in JPMorgan Chase & Co. by 10.5% during the 4th quarter. CapWealth Advisors LLC now owns 60,109 shares of the financial services provider’s stock worth $5,868,000 after buying an additional 5,705 shares during the period. Institutional investors and hedge funds own 71.89% of the company’s stock.
In other news, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total value of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mellody L. Hobson bought 18,200 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the acquisition, the director now directly owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by insiders.
NYSE:JPM traded up $2.66 during trading hours on Friday, hitting $116.87. The company’s stock had a trading volume of 1,020,635 shares, compared to its average volume of 11,492,522. The stock has a fifty day simple moving average of $113.95 and a 200-day simple moving average of $111.37. The company has a market capitalization of $357.54 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 1.20. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 0.97. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $120.40.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 9.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.08%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, October 3rd. JPMorgan Chase & Co.’s payout ratio is presently 40.00%.
Several research analysts have weighed in on the company. Goldman Sachs Group reiterated a “neutral” rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. 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. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Credit Suisse Group set a $135.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $122.59.
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 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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