Abner Herrman & Brock LLC Has $27.72 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Abner Herrman & Brock LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,438 shares of the financial services provider’s stock after selling 1,171 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.3% of Abner Herrman & Brock LLC’s holdings, making the stock its 4th largest position. Abner Herrman & Brock LLC’s holdings in JPMorgan Chase & Co. were worth $27,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Ethic Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 19.3% during the fourth quarter. Ethic Inc. now owns 32,192 shares of the financial services provider’s stock valued at $5,476,000 after purchasing an additional 5,208 shares during the last quarter. Kestra Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 6.1% during the 4th quarter. Kestra Advisory Services LLC now owns 483,813 shares of the financial services provider’s stock valued at $82,297,000 after purchasing an additional 27,856 shares in the last quarter. Waverly Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 12.1% during the fourth quarter. Waverly Advisors LLC now owns 45,645 shares of the financial services provider’s stock valued at $7,764,000 after buying an additional 4,935 shares during the last quarter. Pinnacle Holdings LLC increased its position in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Pinnacle Holdings LLC now owns 13,304 shares of the financial services provider’s stock valued at $2,263,000 after acquiring an additional 99 shares in the last quarter. Finally, Gibson Capital LLC raised its holdings in JPMorgan Chase & Co. by 17.8% in the 4th quarter. Gibson Capital LLC now owns 1,432 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on JPM shares. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Up 1.3 %

Shares of JPM opened at $213.41 on Thursday. The business’s 50 day simple moving average is $211.21 and its 200-day simple moving average is $203.32. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $612.84 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter last year, the business earned $4.37 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.34%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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, 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.