Hudson Canyon Capital Management Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Hudson Canyon Capital Management trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,207 shares of the financial services provider’s stock after selling 1,930 shares during the period. JPMorgan Chase & Co. comprises approximately 1.9% of Hudson Canyon Capital Management’s portfolio, making the stock its 15th biggest holding. Hudson Canyon Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on JPM shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Barclays increased their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $208.35.

JPMorgan Chase & Co. Stock Down 2.3 %

Shares of JPM opened at $212.52 on Friday. The company’s 50-day moving average price is $211.25 and its 200 day moving average price is $199.90. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market cap of $610.29 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the firm earned $4.37 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.