Canandaigua National Corp Sells 4,875 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Canandaigua National Corp lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,761 shares of the financial services provider’s stock after selling 4,875 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.8% of Canandaigua National Corp’s investment portfolio, making the stock its 4th biggest position. Canandaigua National Corp’s holdings in JPMorgan Chase & Co. were worth $16,709,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $3,501,714,000. Sanders Capital LLC lifted its stake in shares of JPMorgan Chase & Co. by 364.4% in the 4th quarter. Sanders Capital LLC now owns 12,191,489 shares of the financial services provider’s stock valued at $1,661,572,000 after acquiring an additional 9,566,427 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of JPMorgan Chase & Co. by 22.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,288,837 shares of the financial services provider’s stock valued at $3,848,803,000 after acquiring an additional 5,610,076 shares during the last quarter. Morgan Stanley lifted its stake in shares of JPMorgan Chase & Co. by 5.5% in the 4th quarter. Morgan Stanley now owns 39,207,003 shares of the financial services provider’s stock valued at $4,982,034,000 after acquiring an additional 2,044,249 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.6% in the 4th quarter. FMR LLC now owns 38,458,423 shares of the financial services provider’s stock valued at $4,886,911,000 after acquiring an additional 1,691,888 shares during the last quarter. 69.02% of the stock is currently owned by hedge funds and other institutional investors.

JPM has been the subject of a number of research reports. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Daiwa Capital Markets initiated coverage on JPMorgan Chase & Co. in a research report on Wednesday, January 6th. They set an “outperform” rating and a $139.00 target price for the company. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft raised their target price on JPMorgan Chase & Co. from $142.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. Finally, Seaport Global Securities lifted their price objective on JPMorgan Chase & Co. from $140.00 to $157.00 in a research report on Tuesday, January 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $138.89.

Shares of JPM traded down $1.02 during trading hours on Thursday, hitting $153.91. The stock had a trading volume of 404,246 shares, compared to its average volume of 15,497,205. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $152.02 and a 200-day simple moving average of $126.38. The firm has a market capitalization of $469.66 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. JPMorgan Chase & Co. has a 1-year low of $82.40 and a 1-year high of $161.69.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Thursday, January 14th. The financial services provider reported $3.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $1.17. The company had revenue of $29.22 billion during the quarter, compared to the consensus estimate of $28.74 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 7.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Tuesday, April 6th will be paid a $0.90 dividend. The ex-dividend date is Monday, April 5th. This represents a $3.60 annualized dividend and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.

In other news, CEO Douglas B. Petno sold 22,011 shares of the firm’s stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $129.84, for a total value of $2,857,908.24. Company insiders own 0.78% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Read More: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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