JPMorgan Chase & Co. cut its stake in Safeguard Scientifics, Inc. (NYSE:SFE) by 51.0% during the first quarter, Holdings Channel reports. The institutional investor owned 17,223 shares of the asset manager’s stock after selling 17,933 shares during the period. JPMorgan Chase & Co.’s holdings in Safeguard Scientifics were worth $219,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SFE. Wells Fargo & Company MN increased its position in shares of Safeguard Scientifics by 5.2% in the first quarter. Wells Fargo & Company MN now owns 15,951 shares of the asset manager’s stock valued at $203,000 after buying an additional 791 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Safeguard Scientifics by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 101,350 shares of the asset manager’s stock valued at $1,288,000 after buying an additional 2,774 shares in the last quarter. Emerald Advisers Inc. PA increased its position in shares of Safeguard Scientifics by 20.2% in the first quarter. Emerald Advisers Inc. PA now owns 17,623 shares of the asset manager’s stock valued at $224,000 after buying an additional 2,962 shares in the last quarter. US Bancorp DE increased its position in shares of Safeguard Scientifics by 16.4% in the first quarter. US Bancorp DE now owns 27,000 shares of the asset manager’s stock valued at $343,000 after buying an additional 3,800 shares in the last quarter. Finally, DnB Asset Management AS increased its position in shares of Safeguard Scientifics by 16.7% in the first quarter. DnB Asset Management AS now owns 32,858 shares of the asset manager’s stock valued at $417,000 after buying an additional 4,700 shares in the last quarter. 76.96% of the stock is currently owned by institutional investors.
Safeguard Scientifics, Inc. (NYSE:SFE) opened at 11.90 on Tuesday. Safeguard Scientifics, Inc. has a 12 month low of $10.60 and a 12 month high of $14.38. The firm has a 50-day moving average price of $11.93 and a 200 day moving average price of $12.12. The company’s market capitalization is $242.91 million.
Safeguard Scientifics (NYSE:SFE) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by $0.32. During the same quarter in the previous year, the company posted $1.92 earnings per share. Analysts expect that Safeguard Scientifics, Inc. will post ($2.24) EPS for the current year.
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Several research analysts have commented on the company. Zacks Investment Research raised Safeguard Scientifics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub downgraded Safeguard Scientifics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, ValuEngine downgraded Safeguard Scientifics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 16th.
About Safeguard Scientifics
Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.
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