Bowen Hanes & Co Has Boosted Its Stake in Jpmorgan Chase (JPM) by $1.21 Million as Market Value Declined; As Biogen (BIIB) Share Value Declined, Livforsakringsbolaget Skandia Omsesidigt Upped Stake by $518,700

August 9, 2018 - By Jeanette Garcia

Biogen Inc. (NASDAQ:BIIB) Logo

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Biogen Inc (BIIB) by 9.32% based on its latest 2018Q1 regulatory filing with the SEC. Livforsakringsbolaget Skandia Omsesidigt bought 1,900 shares as the company’s stock declined 1.31% with the market. The institutional investor held 22,287 shares of the biological products (no diagnostic substances) company at the end of 2018Q1, valued at $6.10 million, up from 20,387 at the end of the previous reported quarter. Livforsakringsbolaget Skandia Omsesidigt who had been investing in Biogen Inc for a number of months, seems to be bullish on the $69.88 billion market cap company. The stock decreased 0.91% or $3.19 during the last trading session, reaching $346.9. About 1.12M shares traded. Biogen Inc. (NASDAQ:BIIB) has risen 13.14% since August 9, 2017 and is uptrending. It has outperformed by 0.57% the S&P500. Some Historical BIIB News: 01/05/2018 – Biogen and Neurimmune Announce Option Exercise for Alzheimer’s Disease Investigational Treatment Aducanumab; 24/04/2018 – BIOGEN INC QTRLY NON-GAAP DILUTED EPS $6.05; 29/05/2018 – In Search for Dip Repurchasers, Goldman Points to Apple, Biogen; 24/04/2018 – Biogen quarterly profit jumps on higher Spinraza sales; 12/03/2018 – BIOGEN DEAL INCL UP TO $515M ADDED MILESTONE PAYMENTS; 24/04/2018 – Biogen: 1Q Revenue Growth Principally Driven by Spinraza, Which Contributed $364M in Global Rev; 24/04/2018 – STAT Plus: Biogen’s rain-making rare-disease drug hits a sales slump; 14/05/2018 – T. Rowe Price Adds Atara Bio, Exits Ablynx, Cuts Biogen; 05/04/2018 – Biogen, Samsung Bioepis to Make Royalty Payments to AbbVie; 12/03/2018 – Biogen Announces New Interim Phase 2 Results From NURTURE

Bowen Hanes & Co Inc increased its stake in Jpmorgan Chase (JPM) by 98.68% based on its latest 2018Q1 regulatory filing with the SEC. Bowen Hanes & Co Inc bought 11,100 shares as the company’s stock declined 6.83% with the market. The institutional investor held 22,349 shares of the major banks company at the end of 2018Q1, valued at $2.46 million, up from 11,249 at the end of the previous reported quarter. Bowen Hanes & Co Inc who had been investing in Jpmorgan Chase for a number of months, seems to be bullish on the $392.77 billion market cap company. The stock decreased 0.77% or $0.91 during the last trading session, reaching $116.88. About 9.65M shares traded. JPMorgan Chase & Co. (NYSE:JPM) has risen 29.65% since August 9, 2017 and is uptrending. It has outperformed by 17.08% the S&P500. Some Historical JPM News: 15/05/2018 – Medidata Presenting at JPMorgan Conference Tomorrow; 03/05/2018 – Fitch Rates J.P. Morgan PUTTERs/DRlVERs Series 5018 Trust; 15/05/2018 – BPER EMII.Ml : JP MORGAN RAISES TARGET PRICE TO EUR 5.8 FROM EUR 5.3; 20/03/2018 – JPMorgan Chase Says Crandall Bowles to Retire From Board in May; 11/04/2018 – JP Morgan’s Dimon says U.S. economy still looks ‘pretty good’; 16/05/2018 – Pandora Media Presenting at JPMorgan Conference Tomorrow; 17/05/2018 – JPMORGAN NAMES KARIM BEN REJEB AS CLIENT EXECUTIVE, PARIS: MEMO; 16/05/2018 – Switch Presenting at JPMorgan Conference Tomorrow; 01/05/2018 – JBG SMITH Properties: JPMorgan to Move Into New Washington, D.C., Facility in 2021; 18/04/2018 – US-China trade fight would not hit Chinese growth until end of this year, says JPMorgan

Bowen Hanes & Co Inc, which manages about $2.46 billion and $2.16 billion US Long portfolio, decreased its stake in Ipg Photonics (NASDAQ:IPGP) by 15,000 shares to 140,000 shares, valued at $32.67 million in 2018Q1, according to the filing. It also reduced its holding in General Electric (NYSE:GE) by 105,078 shares in the quarter, leaving it with 102,360 shares, and cut its stake in Charles Schwab Corp (NYSE:SCHW).

More notable recent JPMorgan Chase & Co. (NYSE:JPM) news were published by: Bizjournals.com which released: “Katzenberg’s WndrCo confirms $1b raised for ‘NewTV'” on August 07, 2018, also Themiddlemarket.com with their article: “M&A wrap: TH Lee, Dun & Bradstreet, Rite Aid, Albertsons, Cerberus, private equity fundraising” published on August 09, 2018, Bizjournals.com published: “What JPMorgan’s Dimon had to say to Portland employees during a West Coast swing” on August 02, 2018. More interesting news about JPMorgan Chase & Co. (NYSE:JPM) were released by: Seekingalpha.com and their article: “JPMorgan: Another Beautiful Quarter” published on July 13, 2018 as well as 247Wallst.com‘s news article titled: “5 Merrill Lynch Defensive Portfolio Stocks That Can Survive a Market Crash” with publication date: July 30, 2018.

Among 34 analysts covering JPMorgan Chase & Co (NYSE:JPM), 19 have Buy rating, 2 Sell and 13 Hold. Therefore 56% are positive. JPMorgan Chase & Co had 122 analyst reports since July 21, 2015 according to SRatingsIntel. DZ Bank upgraded JPMorgan Chase & Co. (NYSE:JPM) on Wednesday, January 17 to “Hold” rating. Morgan Stanley maintained JPMorgan Chase & Co. (NYSE:JPM) rating on Friday, February 2. Morgan Stanley has “Overweight” rating and $133 target. The stock of JPMorgan Chase & Co. (NYSE:JPM) has “Hold” rating given on Friday, April 13 by Nomura. The stock of JPMorgan Chase & Co. (NYSE:JPM) has “Buy” rating given on Thursday, December 21 by Buckingham Research. Citigroup maintained the shares of JPM in report on Friday, October 6 with “Neutral” rating. Robert W. Baird maintained the stock with “Hold” rating in Tuesday, January 2 report. The stock has “Hold” rating by Keefe Bruyette & Woods on Tuesday, October 3. RBC Capital Markets maintained it with “Buy” rating and $95.0 target in Tuesday, September 26 report. Credit Suisse maintained JPMorgan Chase & Co. (NYSE:JPM) on Monday, October 9 with “Buy” rating. The stock of JPMorgan Chase & Co. (NYSE:JPM) earned “Outperform” rating by BMO Capital Markets on Wednesday, September 16.

Since April 16, 2018, it had 2 insider purchases, and 1 sale for $14,319 activity. Smith Gordon sold 30,725 shares worth $3.50 million. HOBSON MELLODY L had bought 18,000 shares worth $2.00 million.

Investors sentiment decreased to 0.81 in 2018 Q1. Its down 0.07, from 0.88 in 2017Q4. It dived, as 52 investors sold JPM shares while 843 reduced holdings. 132 funds opened positions while 596 raised stakes. 2.39 billion shares or 2.61% less from 2.46 billion shares in 2017Q4 were reported. Southeast Asset Advsrs holds 0.07% or 2,133 shares. Thompson Rubinstein Mngmt Inc Or holds 6,255 shares. 66,544 were reported by Novare Capital Mngmt Ltd. 146,927 were accumulated by Smith Salley & Associate. Fukoku Mutual Life Insur stated it has 0.26% in JPMorgan Chase & Co. (NYSE:JPM). Fiera Cap Corporation holds 605,977 shares. 14,178 were reported by Accredited Invsts. Intrust Bancorp Na holds 1.52% in JPMorgan Chase & Co. (NYSE:JPM) or 47,886 shares. The California-based Neumann Limited Liability Co has invested 1.56% in JPMorgan Chase & Co. (NYSE:JPM). Moreover, Markel has 0.38% invested in JPMorgan Chase & Co. (NYSE:JPM). Driehaus Cap, a Illinois-based fund reported 6,592 shares. Moreover, Busey Trust has 2.22% invested in JPMorgan Chase & Co. (NYSE:JPM). First Citizens National Bank & Trust And Trust has 2.03% invested in JPMorgan Chase & Co. (NYSE:JPM) for 135,593 shares. Cranbrook Wealth Management Limited Liability Corp has invested 0.14% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM). Huber Cap Mngmt Limited Com owns 2.22% invested in JPMorgan Chase & Co. (NYSE:JPM) for 343,781 shares.

Livforsakringsbolaget Skandia Omsesidigt, which manages about $1.03B US Long portfolio, decreased its stake in Western Union Co (NYSE:WU) by 65,300 shares to 7,045 shares, valued at $135,000 in 2018Q1, according to the filing. It also reduced its holding in Ppg Industries Inc (NYSE:PPG) by 4,500 shares in the quarter, leaving it with 3,888 shares, and cut its stake in Amgen Inc (NASDAQ:AMGN).

Since February 15, 2018, it had 1 insider purchase, and 4 sales for $12.01 million activity. DENNER ALEXANDER J also bought $12.96 million worth of Biogen Inc. (NASDAQ:BIIB) on Wednesday, April 25.

Among 33 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 25 have Buy rating, 0 Sell and 8 Hold. Therefore 76% are positive. Biogen Idec Inc. had 142 analyst reports since July 23, 2015 according to SRatingsIntel. The company was maintained on Friday, March 2 by RBC Capital Markets. The firm has “Hold” rating by Robert W. Baird given on Thursday, September 28. The firm earned “Hold” rating on Tuesday, July 25 by Stifel Nicolaus. The firm earned “Buy” rating on Tuesday, October 17 by Mizuho. The stock of Biogen Inc. (NASDAQ:BIIB) has “Hold” rating given on Friday, February 16 by Argus Research. On Monday, July 27 the stock rating was maintained by Argus Research with “Buy”. Oppenheimer maintained the stock with “Buy” rating in Tuesday, April 24 report. On Friday, July 14 the stock rating was maintained by Nomura with “Buy”. The stock of Biogen Inc. (NASDAQ:BIIB) earned “Strong Buy” rating by Raymond James on Thursday, December 29. As per Friday, August 25, the company rating was maintained by Robert W. Baird.

JPMorgan Chase & Co. (NYSE:JPM) Institutional Positions Chart

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