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

Abner Herrman & Brock LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the second quarter, according to its most recent 13F 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 quarter. JPMorgan Chase & Co. makes up 3.0% of Abner Herrman & Brock LLC’s holdings, making the stock its 11th largest position. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $17,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. ERN LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $957,000. Waverton Investment Management Ltd raised its stake in JPMorgan Chase & Co. by 8.8% in the second quarter. Waverton Investment Management Ltd now owns 109,787 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 8,839 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in JPMorgan Chase & Co. by 6.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 670,262 shares of the financial services provider’s stock valued at $75,478,000 after buying an additional 38,577 shares during the last quarter. Burleson & Company LLC raised its stake in JPMorgan Chase & Co. by 7.9% in the second quarter. Burleson & Company LLC now owns 40,553 shares of the financial services provider’s stock valued at $4,567,000 after buying an additional 2,961 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP raised its stake in JPMorgan Chase & Co. by 23.6% in the second quarter. Schneider Downs Wealth Management Advisors LP now owns 7,511 shares of the financial services provider’s stock valued at $846,000 after buying an additional 1,436 shares during the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

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

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The company had revenue of $30.72 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.78 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 11.33 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $4.00 annualized dividend and a yield of 3.60%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. UBS Group decreased their price target 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. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. Wells Fargo & Company cut their price objective on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Barclays set a $200.00 price objective on JPMorgan Chase & Co. in a report on Monday, July 18th. Finally, Piper Sandler dropped their target price on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $145.95.

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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