Abner Herrman & Brock LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Abner Herrman & Brock LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,130 shares of the financial services provider's stock after selling 1,576 shares during the period. JPMorgan Chase & Co. comprises about 4.0% 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 $31,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Prudent Man Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Finally, Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer now directly owns 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,594 shares of company stock valued at $23,991,061 over the last three months. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JPM. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Royal Bank of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday. Bank of America reduced their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $267.15.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $0.46 on Monday, hitting $264.46. 6,008,253 shares of the stock traded hands, compared to its average volume of 9,550,450. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25. The business's fifty day moving average is $245.86 and its two-hundred day moving average is $249.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market capitalization of $734.96 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the company earned $4.44 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.