Abner Herrman & Brock LLC Purchases 3,622 Shares of JPMorgan Chase & Co. (JPM)
Abner Herrman & Brock LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,043 shares of the financial services provider’s stock after acquiring an additional 3,622 shares during the period. JPMorgan Chase & Co. comprises approximately 3.6% of Abner Herrman & Brock LLC’s portfolio, making the stock its 4th biggest holding. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $23,137,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Keeler Thomas Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $112,000. Financial Gravity Wealth Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth $150,000. Stelac Advisory Services LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $162,000. FSI Group LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $159,000. Finally, Private Ocean LLC increased its position in JPMorgan Chase & Co. by 94.7% during the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after buying an additional 824 shares during the last quarter. Institutional investors and hedge funds own 70.72% of the company’s stock.
Shares of NYSE:JPM opened at $113.08 on Thursday. The stock has a market capitalization of $392.34 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. JPMorgan Chase & Co. has a 52-week low of $90.32 and a 52-week high of $119.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01.
In related news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.
Several equities analysts have commented on JPM shares. Royal Bank of Canada reissued a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Goldman Sachs Group reissued a “neutral” rating and set a $124.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Societe Generale reaffirmed a “neutral” rating and issued a $119.50 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Finally, Zacks Investment Research downgraded JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $120.23.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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