Abner Herrman & Brock LLC Has $27.42 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Abner Herrman & Brock LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,880 shares of the financial services provider’s stock after selling 5,001 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.4% of Abner Herrman & Brock LLC’s holdings, making the stock its 4th biggest holding. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $27,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of JPM. Stone House Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares in the last quarter. Bare Financial Services Inc purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Partnership Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $36,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $40,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $40,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $196.95 on Thursday. The stock has a market cap of $565.58 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.65 and a beta of 1.12. The firm’s 50-day moving average is $194.86 and its 200 day moving average is $184.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.41 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,485 shares of company stock worth $47,728,528. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on JPM. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Morgan Stanley decreased their target price on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets reduced their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

Check Out Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Company Profile

(Free Report)

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

Further Reading

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

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