Canal Capital Management LLC Has $10.72 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Canal Capital Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,717 shares of the financial services provider’s stock after selling 1,207 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of Canal Capital Management LLC’s portfolio, making the stock its 14th biggest position. Canal Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,719,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on JPM shares. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $255.67.

JPMorgan Chase & Co. Stock Up 0.9 %

JPM stock opened at $231.79 on Monday. JPMorgan Chase & Co. has a 1-year low of $185.98 and a 1-year high of $280.25. The stock has a market cap of $645.07 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $244.72 and its 200 day moving average is $243.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter last year, the company posted $4.44 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,545 shares of company stock valued at $19,149,144. 0.79% of the stock is currently owned by insiders.

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.