Canal Capital Management LLC Sells 625 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Canal Capital Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,393 shares of the financial services provider’s stock after selling 625 shares during the period. JPMorgan Chase & Co. makes up about 1.5% of Canal Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Canal Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,979,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $6,016,878,000. Swedbank AB purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $800,130,000. Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Capital International Investors raised its holdings in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after buying an additional 1,480,379 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

JPMorgan Chase & Co. Trading Down 2.0 %

NYSE JPM opened at $220.30 on Wednesday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $632.63 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company’s 50-day simple moving average is $210.24 and its two-hundred day simple moving average is $199.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates 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 last year, the company posted $4.37 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. 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.