Blackrock Investment Management Lowers stake in JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. (JPM) : Blackrock Investment Management reduced its stake in JPMorgan Chase & Co. by 1.49% during the most recent quarter end. The investment management company now holds a total of 18,058,924 shares of JPMorgan Chase & Co. which is valued at $1,179,608,916 after selling 273,382 shares in JPMorgan Chase & Co. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.JPMorgan Chase & Co. makes up approximately 1.43% of Blackrock Investment Management’s portfolio.

Other Hedge Funds, Including , Bank Of Nova Scotia Trust Co reduced its stake in JPM by selling 30,676 shares or 40.6% in the most recent quarter. The Hedge Fund company now holds 44,872 shares of JPM which is valued at $2,931,039. JPMorgan Chase & Co. makes up approx 0.37% of Bank Of Nova Scotia Trust Co’s portfolio.Beacon Investment Advisory Services boosted its stake in JPM in the latest quarter, The investment management firm added 280 additional shares and now holds a total of 7,095 shares of JPMorgan Chase & Co. which is valued at $464,439. JPMorgan Chase & Co. makes up approx 0.01% of Beacon Investment Advisory Services’s portfolio.Washington Capital Management Inc reduced its stake in JPM by selling 5,400 shares or 11.62% in the most recent quarter. The Hedge Fund company now holds 41,080 shares of JPM which is valued at $2,723,604. JPMorgan Chase & Co. makes up approx 3.70% of Washington Capital Management Inc’s portfolio.Cable Hill Partners reduced its stake in JPM by selling 400 shares or 6.65% in the most recent quarter. The Hedge Fund company now holds 5,616 shares of JPM which is valued at $372,341. JPMorgan Chase & Co. makes up approx 0.25% of Cable Hill Partners’s portfolio.

JPMorgan Chase & Co. closed down -0.09 points or -0.14% at $65.86 with 90,84,877 shares getting traded on Friday. Post opening the session at $65.72, the shares hit an intraday low of $65.22 and an intraday high of $65.91 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, JPMorgan Chase & Co. reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.43. The company had revenue of $24400.00 million for the quarter, compared to analysts expectations of $23843.59 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.

Many Wall Street Analysts have commented on JPMorgan Chase & Co.. JPMorgan Chase & Co. was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016. JPMorgan Chase & Co. was Downgraded by Citigroup to ” Neutral” on Aug 8, 2016. Berenberg Initiated JPMorgan Chase & Co. on Jul 13, 2016 to “Sell”, Price Target of the shares are set at $52.

JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking financial services for consumers and small businesses commercial banking financial transaction processing and asset management. JPMorgan Chase’s activities are organized into four business segments. The Company’s Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through ATMs online mobile and telephone banking. The Corporate & Investment Bank comprising Banking and Markets & Investor Services offers investment banking market-making prime brokerage and treasury and securities products and services. The Commercial Banking (CB) segment delivers industry knowledge local expertise and service to the United States and the United States multinational clients. The Asset Management segment comprises investment and wealth management. The Company also operates a Corporate segment.

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