Engineers Gate Manager LP Scales Back JPMorgan Stake

Engineers Gate Manager LP, a significant shareholder of JPMorgan Chase & Co., has made changes to its stock position. According to a recent 13F filing with the Securities & Exchange Commission, Engineers Gate Manager LP trimmed its position in shares of JPMorgan Chase & Co. by 43.5% during the second quarter.

The firm sold 14,306 shares during the period, reducing its ownership to 18,583 shares. At the end of the most recent quarter, these holdings were worth $6,083,000.

This is not an isolated instance; several other institutional investors and hedge funds have also recently bought and sold JPMorgan Chase & Co. shares. For example, Fidelis Capital Partners LLC increased its position in shares by 7.9% during the fourth quarter, while E Fund Management Co. Ltd. grew its position by 7.1% during the second quarter.

Analysts have weighed in on JPMorgan Chase & Co., with Jefferies Financial Group maintaining a 'neutral' rating and Morgan Stanley issuing a 'positive' rating with a price objective of $370.00 per share. Other analysts, such as Wells Fargo & Company, have increased their price objectives on the stock.