Highland Capital Management Lowers stake in JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. (JPM) : Highland Capital Management reduced its stake in JPMorgan Chase & Co. by 2.59% during the most recent quarter end. The investment management company now holds a total of 354,248 shares of JPMorgan Chase & Co. which is valued at $23,996,760 after selling 9,410 shares in JPMorgan Chase & Co. , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.JPMorgan Chase & Co. makes up approximately 2.05% of Highland Capital Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in JPM by selling 10,229 shares or 8.38% in the most recent quarter. The Hedge Fund company now holds 111,789 shares of JPM which is valued at $7,572,587. JPMorgan Chase & Co. makes up approx 0.26% of Msi Financial Services Inc’s portfolio.Beutel Goodman Co Ltd. reduced its stake in JPM by selling 511,140 shares or 18.83% in the most recent quarter. The Hedge Fund company now holds 2,202,960 shares of JPM which is valued at $150,484,198. JPMorgan Chase & Co. makes up approx 1.44% of Beutel Goodman Co Ltd.’s portfolio. Cupps Capital Management added JPM to its portfolio by purchasing 720 company shares during the most recent quarter which is valued at $49,421. JPMorgan Chase & Co. makes up approx 0.02% of Cupps Capital Management’s portfolio.Salem Capital Management Inc boosted its stake in JPM in the latest quarter, The investment management firm added 3,200 additional shares and now holds a total of 18,218 shares of JPMorgan Chase & Co. which is valued at $1,250,484. JPMorgan Chase & Co. makes up approx 0.69% of Salem Capital Management Inc’s portfolio.Cullinan Associates Inc boosted its stake in JPM in the latest quarter, The investment management firm added 1,493 additional shares and now holds a total of 163,664 shares of JPMorgan Chase & Co. which is valued at $11,078,416. JPMorgan Chase & Co. makes up approx 0.95% of Cullinan Associates Inc’s portfolio.

JPMorgan Chase & Co. closed down -0.33 points or -0.48% at $68.31 with 1,56,57,104 shares getting traded on Tuesday. Post opening the session at $68.5, the shares hit an intraday low of $67.93 and an intraday high of $68.82 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Macquarie to ” Neutral” on Sep 9, 2016. 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.

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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