Hudson Canyon Capital Management Sells 1,288 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Hudson Canyon Capital Management has reduced its holdings in JPMorgan Chase & Co. by 9.2%, selling 1,288 shares and holding a total of 12,750 shares valued at approximately $3.13 million.
• Several institutional investors significantly increased their stakes in JPMorgan, with GAMMA Investing LLC raising its holdings by 25,861.9%, now owning over 23.5 million shares worth about $5.78 billion.
• Analysts currently rate JPMorgan with a consensus rating of "Moderate Buy" and an average target price of $288.68, despite some recent downgrades from various firms.

Hudson Canyon Capital Management decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,750 shares of the financial services provider's stock after selling 1,288 shares during the quarter. JPMorgan Chase & Co. comprises about 2.2% of Hudson Canyon Capital Management's investment portfolio, making the stock its 10th biggest position. Hudson Canyon Capital Management's holdings in JPMorgan Chase & Co. were worth $3,128,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Northern Trust Corp boosted its holdings in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after acquiring an additional 2,465,572 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel directly owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock worth $4,113,796 in the last 90 days. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 1.1%

Shares of NYSE JPM opened at $292.63 on Wednesday. The stock's 50 day moving average price is $284.76 and its two-hundred day moving average price is $263.06. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The stock has a market capitalization of $804.66 billion, a P/E ratio of 15.01, a PEG ratio of 1.92 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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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