JPMorgan Chase & Co. $JPM is Abner Herrman & Brock LLC's 5th Largest Position

Key Points

• Abner Herrman & Brock LLC reduced its holdings in JPMorgan Chase & Co. by 3.8% in Q2, making it the 5th largest position in their portfolio, valued at approximately $35.7 million.
• JPMorgan Chase reported a quarterly EPS of $4.96, surpassing estimates by $0.48, despite a 10.5% year-over-year revenue decline to $44.91 billion.
• The stock currently has an average rating of "Moderate Buy" with a consensus price target of $291.67, influenced by recent analyst ratings and price target adjustments.

Abner Herrman & Brock LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,233 shares of the financial services provider's stock after selling 4,897 shares during the period. JPMorgan Chase & Co. comprises about 4.0% of Abner Herrman & Brock LLC's portfolio, making the stock its 5th largest holding. Abner Herrman & Brock LLC's holdings in JPMorgan Chase & Co. were worth $35,726,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. TruWealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 3.6% during the 2nd quarter. TruWealth Advisors LLC now owns 116,534 shares of the financial services provider's stock valued at $33,784,000 after buying an additional 4,017 shares during the period. RB Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 2.0% in the 2nd quarter. RB Capital Management LLC now owns 27,396 shares of the financial services provider's stock valued at $7,942,000 after purchasing an additional 540 shares during the last quarter. RDA Financial Network grew its stake in shares of JPMorgan Chase & Co. by 2.6% in the second quarter. RDA Financial Network now owns 31,315 shares of the financial services provider's stock worth $9,079,000 after acquiring an additional 794 shares in the last quarter. McLean Asset Management Corp grew its stake in shares of JPMorgan Chase & Co. by 2.3% in the second quarter. McLean Asset Management Corp now owns 7,394 shares of the financial services provider's stock worth $2,159,000 after acquiring an additional 164 shares in the last quarter. Finally, Sage Capital Advisors llc grew its stake in shares of JPMorgan Chase & Co. by 7.4% in the second quarter. Sage Capital Advisors llc now owns 2,175 shares of the financial services provider's stock worth $631,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.4%

JPMorgan Chase & Co. stock opened at $306.88 on Friday. The company has a 50 day moving average price of $293.94 and a 200 day moving average price of $267.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $307.55. The firm has a market capitalization of $843.84 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.03 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the company posted $6.12 EPS. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Finally, Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. 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.

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