Jpmorgan Chase & Co (JPM) Holder Rafferty Asset Management LLC Has Cut Stake by $3.62 Million

September 17, 2017 - By Clifton Ray

Investors sentiment decreased to 0.82 in Q4 2016. Its down 0.15, from 0.97 in 2016Q3. It turned negative, as 69 investors sold JPM shares while 807 reduced holdings. 166 funds opened positions while 553 raised stakes. 2.60 billion shares or 2.27% more from 2.54 billion shares in 2016Q3 were reported. Harvey Capital Mngmt Inc invested in 4,000 shares. Bluemountain Capital Mngmt Limited Company accumulated 12,157 shares or 0.02% of the stock. Creative Planning reported 386,326 shares. Roosevelt Gru Inc, a New York-based fund reported 13,195 shares. Tiaa Cref Invest Lc accumulated 1.13% or 17.55M shares. Ipg Invest Advsrs Limited Liability Company has 6,957 shares for 0% of their portfolio. Credit Agricole S A has 1.06% invested in JPMorgan Chase & Co. (NYSE:JPM). Doheny Asset Ca accumulated 0.23% or 5,582 shares. Brinker Capital invested in 0.29% or 60,000 shares. Northern Mngmt, a Wisconsin-based fund reported 49,222 shares. Timber Creek Capital Ltd Liability Corporation owns 0.15% invested in JPMorgan Chase & Co. (NYSE:JPM) for 2,217 shares. Exxonmobil Investment Mngmt Tx has 1.6% invested in JPMorgan Chase & Co. (NYSE:JPM). Delta Cap Mngmt Ltd Liability Co reported 60,765 shares. Davidson has 3.71% invested in JPMorgan Chase & Co. (NYSE:JPM). 4.80 million were accumulated by Hsbc Public Ltd Com.

Since May 11, 2017, it had 0 buys, and 1 insider sale for $568,100 activity.

Rafferty Asset Management Llc decreased its stake in Jpmorgan Chase & Co (JPM) by 17.95% based on its latest 2016Q4 regulatory filing with the SEC. Rafferty Asset Management Llc sold 42,116 shares as the company’s stock declined 6.04% while stock markets rallied. The institutional investor held 192,454 shares of the major banks company at the end of 2016Q4, valued at $16.61 million, down from 234,570 at the end of the previous reported quarter. Rafferty Asset Management Llc who had been investing in Jpmorgan Chase & Co for a number of months, seems to be less bullish one the $322.41B market cap company. The stock increased 0.71% or $0.65 on September 15, reaching $91.62. About 18.17M shares traded or 53.33% up from the average. JPMorgan Chase & Co. (NYSE:JPM) has risen 33.74% since September 17, 2016 and is uptrending. It has outperformed by 17.04% the S&P500.

Rafferty Asset Management Llc, which manages about $7.35 billion and $2.18 billion US Long portfolio, upped its stake in Prudential Finl Inc (NYSE:PRU) by 45,526 shares to 73,969 shares, valued at $7.70 million in 2016Q4, according to the filing. It also increased its holding in State Str Corp (NYSE:STT) by 45,929 shares in the quarter, for a total of 71,311 shares, and has risen its stake in Spdr Series Trust (XBI).

Wall Street await JPMorgan Chase & Co. (NYSE:JPM) to release earnings on October, 12 before the open. Analysts forecast EPS of $1.69, up exactly $0.11 or 6.96 % from 2014’s $1.58 EPS. The expected JPM’s profit could reach $5.95 billion giving the stock 13.55 P/E in the case that $1.69 earnings per share is reported. After posting $1.82 EPS for the previous quarter, JPMorgan Chase & Co.’s analysts now forecast -7.14 % negative EPS growth.

More notable recent JPMorgan Chase & Co. (NYSE:JPM) news were published by: Reuters.com which released: “JPMorgan Chase extends urban renewal investments to Chicago” on September 14, 2017, also Reuters.com with their article: “JPMorgan’s Dimon says bitcoin ‘is a fraud'” published on September 12, 2017, Seekingalpha.com published: “JPMorgan: This Won’t End Well” on September 09, 2017. More interesting news about JPMorgan Chase & Co. (NYSE:JPM) were released by: Reuters.com and their article: “BRIEF-Bandhan Bank appoints Goldman Sachs, JP Morgan Chase & co as lead …” published on September 12, 2017 as well as Investorplace.com‘s news article titled: “Don’t Chase the Most Recent Rally in JP Morgan Chase & Co. (JPM) Stock” with publication date: September 14, 2017.

JPMorgan Chase & Co. (NYSE:JPM) Ratings Coverage

Among 30 analysts covering JPMorgan Chase & Co (NYSE:JPM), 17 have Buy rating, 2 Sell and 11 Hold. Therefore 57% are positive. JPMorgan Chase & Co has $110 highest and $52 lowest target. $83.48’s average target is -8.88% below currents $91.62 stock price. JPMorgan Chase & Co had 70 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by UBS on Monday, January 18 with “Neutral”. KBW upgraded it to “Outperform” rating and $77 target in Monday, August 17 report. The company was downgraded on Friday, September 9 by Macquarie Research. The firm has “Hold” rating given on Friday, July 14 by Oppenheimer. The firm has “Hold” rating given on Thursday, June 1 by BMO Capital Markets. As per Thursday, April 14, the company rating was maintained by BMO Capital Markets. On Friday, July 14 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. Goldman Sachs downgraded the stock to “Neutral” rating in Monday, January 11 report. Robert W. Baird downgraded it to “Neutral” rating and $72 target in Wednesday, November 9 report. Vetr upgraded JPMorgan Chase & Co. (NYSE:JPM) on Tuesday, September 1 to “Buy” rating.

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