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

Abner Herrman & Brock LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 131,438 shares of the financial services provider’s stock after selling 1,171 shares during the period. JPMorgan Chase & Co. accounts for 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

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

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion for 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 period last year, the company posted $4.37 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis 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 dividend payout ratio (DPR) is 27.89%.

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. Citigroup upped their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Company 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, 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.