Foundry Partners LLC Cuts Holdings in JPMorgan Chase (JPM)
15 April, 2018, 01:09 | Author: Brooke Harris
Thornburg Investment Management Inc increased its stake in Jpmorgan Chase & Co (JPM) by 2% based on its latest 2017Q4 regulatory filing with the SEC.
Results were strong across the board, with JPMorgan Chase posting solid increases in net income at its consumer banking, investment banking, commercial banking and wealth management businesses. Erdoes Mary E. also sold $7.31M worth of JPMorgan Chase & Co. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider's stock worth $125,000 after buying an additional 14 shares during the period. Petno Douglas B had sold 48,344 shares worth $5.43M on Saturday, January 13. Now it had 216,625 shares held by the hedge fund. $376.17 billion is the MC of Jpmorgan Chase & Co. The stock increased 2.49% or $2.75 during the last trading session, reaching $113.37. On Monday, March 19 Credit Suisse maintained JPMorgan Chase & Co.
Earnings were $8.71bn (£6.1bn), up from $6.45bn (£4.5bn) during the same period a year ago, results that beat the expectations of analysts.
The S&P 500 fell 7.69 points, or 0.3 percent, to 2,656.30.
A number of brokerages have recently weighed in on JPM. Private Capital Management Llc, a Florida-based fund reported 37,038 shares. Barclays raised their target price on shares of JPMorgan Chase from $105.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, January 2nd.
NYSE JPM opened at $110.30 on Friday. Buckingham Research upgraded the shares of JPM in report on Thursday, December 21 to "Buy" rating. (NYSE:JPM). Harding Loevner Limited Partnership reported 0% of its portfolio in JPMorgan Chase & Co. Torray Ltd holds 0.03% of its portfolio in JPMorgan Chase & Co. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company's stock. This stock's ATR (Average True Range) is now 2.94, and its beta factor is now 1.23. About 16.44M shares traded or 0.38% up from the average. The company's distance from 52-week high price is -4.99 percent and while the current price is 38.87 percent from 52-week low price. JPMorgan Chase has a one year low of $81.64 and a one year high of $119.33. BMO Capital Markets lowered J P Morgan Chase & Co from an "outperform" rating to a "market perform" rating in a research report on Monday, October 17th.
JPMorgan Chase (NYSE:JPM) last released its quarterly earnings results on Friday, April 13th. Return on equity, a key measure of profitability, hits highest level in years, boosted by tax law. The Return on Equity (ROE) value stands at 9.8%. The business had revenue of $27.90 billion during the quarter, compared to analysts' expectations of $27.73 billion. During the same period in the prior year, the business earned $1.65 EPS.
The bank results blow the starting whistle on US earnings season, with Thomson Reuters data predicting profits at S&P 500 companies increased by 18.4 percent from a year ago, their biggest rise in seven years.
Big Money Sentiment decreased to 0.88 in 2017 Q4. The ex-dividend date of this dividend was Wednesday, January 4th. The stock's quarterly performance represents optimistic momentum of 2.83 percent.
Nonetheless, Wall Street seemed pleased by JPMorgan Chase's earnings and guidance. On Tuesday, January 16 the insider CROWN JAMES S bought $825,327.
Foundry Partners LLC reduced its position in shares of JPMorgan Chase (NYSE:JPM) by 4.7% during the 4th quarter, HoldingsChannel.com reports.
Cue Financial Group Inc, which manages about $333.03M and $152.18M US Long portfolio, decreased its stake in Church & Dwight Inc (NYSE:CHD) by 12,675 shares to 29,905 shares, valued at $1.50 million in 2017Q4, according to the filing. The transaction was disclosed in a legal filing with the SEC, which is available at this link. On Saturday, January 13 the insider Lake Marianne sold $1.03 million. While the Short-Term Technical Indicators for the stock on 7-Day Average Directional Indicator shows "Buy" signal. Insiders own 0.88% of the company's stock. The disclosure for this sale can be found here. Advisors Capital Management Llc sold 2,960 shares as Jpmorgan Chase & Co (JPM)'s stock rose 0.67%.
The US's largest bank by assets reported earnings of $2.37 per share on revenue of $27.9 billion. If you are viewing this news story on another site, it was illegally copied and republished in violation of global copyright law. Palladium Limited Liability Corporation reported 2.88% of its portfolio in JPMorgan Chase & Co. Free for 14 days - no credit card required!
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