Canandaigua National Bank & Trust Co. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Canandaigua National Bank & Trust Co. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,684 shares of the financial services provider's stock after selling 3,529 shares during the quarter. JPMorgan Chase & Co. comprises 2.2% of Canandaigua National Bank & Trust Co.'s portfolio, making the stock its 9th biggest position. Canandaigua National Bank & Trust Co.'s holdings in JPMorgan Chase & Co. were worth $21,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $471,000. Crown Wealth Group LLC grew its stake in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares in the last quarter. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $217,000. LGT Group Foundation grew its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 over the last 90 days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $0.16 during trading on Wednesday, hitting $282.94. 11,270,196 shares of the stock were exchanged, compared to its average volume of 9,566,678. The stock's fifty day moving average is $269.48 and its 200 day moving average is $255.64. The stock has a market cap of $786.32 billion, a PE ratio of 13.89, a P/E/G ratio of 2.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.44 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JPM shares. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Morgan Stanley set a $240.00 target price on JPMorgan Chase & Co. and gave the stock an "equal weight" rating in a research report on Monday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $280.45.

About JPMorgan Chase & Co.

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.