Abner Herrman & Brock LLC Trims Stake in J P Morgan Chase & Co (JPM)

Abner Herrman & Brock LLC reduced its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 208,192 shares of the financial services provider’s stock after selling 8,615 shares during the quarter. J P Morgan Chase & Co accounts for 3.6% of Abner Herrman & Brock LLC’s holdings, making the stock its biggest holding. Abner Herrman & Brock LLC’s holdings in J P Morgan Chase & Co were worth $19,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Center for Financial Services boosted its stake in J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after buying an additional 177 shares in the last quarter. Ullmann Financial Group Inc. acquired a new stake in J P Morgan Chase & Co in the first quarter valued at about $148,000. Northwest Investment Counselors LLC acquired a new stake in J P Morgan Chase & Co in the second quarter valued at about $165,000. Cordasco Financial Network boosted its stake in J P Morgan Chase & Co by 496.7% in the second quarter. Cordasco Financial Network now owns 2,333 shares of the financial services provider’s stock valued at $213,000 after buying an additional 1,942 shares in the last quarter. Finally, Mascoma Wealth Management LLC boosted its stake in J P Morgan Chase & Co by 3.1% in the second quarter. Mascoma Wealth Management LLC now owns 2,440 shares of the financial services provider’s stock valued at $223,000 after buying an additional 73 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on JPM shares. Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective on the stock. in a research note on Monday, June 12th. Bank of America Corporation reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday, June 21st. Credit Suisse Group reduced their price objective on J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, June 29th. Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $88.87.

ILLEGAL ACTIVITY WARNING: “Abner Herrman & Brock LLC Trims Stake in J P Morgan Chase & Co (JPM)” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.com-unik.info/2017/10/10/abner-herrman-brock-llc-trims-stake-in-j-p-morgan-chase-co-jpm.html.

Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 0.410% during midday trading on Tuesday, reaching $96.805. The company’s stock had a trading volume of 4,543,741 shares. The company has a market capitalization of $340.61 billion, a P/E ratio of 14.280 and a beta of 1.18. The company’s 50-day moving average price is $92.89 and its 200 day moving average price is $89.53. J P Morgan Chase & Co has a 12-month low of $66.74 and a 12-month high of $97.64.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. J P Morgan Chase & Co’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 EPS. On average, equities research analysts forecast that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a dividend of $0.56 per share. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.32%. J P Morgan Chase & Co’s dividend payout ratio is presently 33.14%.

In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock valued at $2,605,334 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J P Morgan Chase & Co (NYSE:JPM).

Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

What are top analysts saying about J P Morgan Chase & Co? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for J P Morgan Chase & Co and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit