Eaton Vance Management Lowers stake in JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. (JPM) : Eaton Vance Management reduced its stake in JPMorgan Chase & Co. by 3.96% during the most recent quarter end. The investment management company now holds a total of 10,515,571 shares of JPMorgan Chase & Co. which is valued at $643.6 Million after selling 433,018 shares in JPMorgan Chase & Co. , the firm said in a disclosure report filed with the SEC on May 12, 2016.JPMorgan Chase & Co. makes up approximately 1.99% of Eaton Vance Management’s portfolio.

Other Hedge Funds, Including , Oakmont Corp sold out all of its stake in JPM during the most recent quarter. The investment firm sold 491,110 shares of JPM which is valued $30.1 Million.Blackrock Group Ltd reduced its stake in JPM by selling 400,479 shares or 1.23% in the most recent quarter. The Hedge Fund company now holds 32,148,903 shares of JPM which is valued at $1,967.5 Million. JPMorgan Chase & Co. makes up approx 1.07% of Blackrock Group Ltd’s portfolio.Condor Capital Management reduced its stake in JPM by selling 99 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 19,137 shares of JPM which is valued at $1.2 Million. JPMorgan Chase & Co. makes up approx 0.29% of Condor Capital Management’s portfolio. Jrm Investment Counsel sold out all of its stake in JPM during the most recent quarter. The investment firm sold 41,350 shares of JPM which is valued $2.5 Million.Ingalls Snyder reduced its stake in JPM by selling 8,106 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 444,758 shares of JPM which is valued at $28.1 Million. JPMorgan Chase & Co. makes up approx 1.71% of Ingalls Snyder’s portfolio.

JPMorgan Chase & Co. opened for trading at $63.86 and hit $64.19 on the upside on Friday, eventually ending the session at $63.51, with a gain of 0.19% or 0.12 points. The heightened volatility saw the trading volume jump to 1,18,62,030 shares. Company has a market cap of $232,234 M.

On the company’s financial health, JPMorgan Chase & Co. reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 13, 2016. Analyst had a consensus of $1.26. The company had revenue of $23200.00 million for the quarter, compared to analysts expectations of $22874.02 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

Investors should note that on May 17, 2016, JPMorgan Chase & Co. announced a cash dividend of $0.4800. The company’s management has announced Jul 1, 2016 as the ex-dividend date and fixed the record date on Jul 6, 2016. The payable date has been fixed on Jul 31, 2016.

Many Wall Street Analysts have commented on JPMorgan Chase & Co.. JPMorgan Chase & Co. was Downgraded by Portales Partners to ” Underperform” on Feb 22, 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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