JPMorgan Chase (JPM) is seeking approval from the Chinese government to launch a new brokerage in the world's second biggest economy, just weeks after Beijing relaxed restrictions on foreign ownership of financial companies.
This will be the second attempt by the Wall Street giant to gain a serious foothold in China. In late 2016, it pulled out of a joint venture in which it had a 33% stake.
China's securities regulator said Thursday it had received an application from JPMorgan seeking to establish a joint venture in which the bank would hold a controlling 51% stake. It didn't say how long the approval process would take.
China pledged last November to allow foreign companies to own Chinese banks and investment firms for the first time. It followed through on part of that promise at the end of April, announcing new rules for foreign investment in securities firms and fund managers.
Hot Financial Stocks To Own For 2019: MetLife, Inc.(MET)
Advisors' Opinion:- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was MetLife, Inc. (NYSE: MET) which traded down roughly 9% at $49.74. The stock��s 52-week range is $44.18 to $55.91. Volume was 28.5 million compared to the daily average volume of 4.6 million.
- [By ]
The Evercore analysts also said that Metlife Inc. (MET) and CNO Financial Group Inc. (CNO) have "sizable exposure" to long-term care from a reserve standpoint, "but our analysis indicates that their blocks have below average risk and/or more robust reserves versus peers, implying a lower risk of charges over the next few years."
- [By Logan Wallace]
State Treasurer State of Michigan lessened its stake in shares of MetLife (NYSE:MET) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 305,185 shares of the financial services provider’s stock after selling 3,300 shares during the period. State Treasurer State of Michigan’s holdings in MetLife were worth $14,005,000 as of its most recent SEC filing.
- [By Joseph Griffin]
Flippin Bruce & Porter Inc. grew its position in MetLife (NYSE:MET) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,498 shares of the financial services provider’s stock after buying an additional 2,568 shares during the quarter. MetLife accounts for 1.9% of Flippin Bruce & Porter Inc.’s holdings, making the stock its 20th largest holding. Flippin Bruce & Porter Inc.’s holdings in MetLife were worth $8,788,000 at the end of the most recent quarter.
- [By Logan Wallace]
Freestone Capital Holdings LLC grew its stake in shares of Metlife Inc (NYSE:MET) by 6.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,824 shares of the financial services provider’s stock after acquiring an additional 1,648 shares during the period. Freestone Capital Holdings LLC’s holdings in Metlife were worth $1,185,000 at the end of the most recent reporting period.
Hot Financial Stocks To Own For 2019: NeoGenomics, Inc.(NEO)
Advisors' Opinion:- [By Logan Wallace]
Get a free copy of the Zacks research report on NeoGenomics (NEO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Joseph Griffin]
These are some of the media stories that may have effected Accern’s analysis:
Get NeoGenomics alerts: NeoGenomics (NEO) Receives Buy Rating from Stephens (americanbankingnews.com) NeoGenomics Redeems 100% of Series A Redeemable Preferred Stock (finance.yahoo.com) Q2 2018 EPS Estimates for NeoGenomics, Inc. Cut by William Blair (NEO) (americanbankingnews.com) NeoGenomics (NEO) Receives Buy Rating from BTIG Research (americanbankingnews.com) Steven C. Jones Sells 2,000 Shares of NeoGenomics, Inc. (NEO) Stock (americanbankingnews.com)NeoGenomics traded up $0.40, hitting $13.90, during trading on Tuesday, MarketBeat Ratings reports. 6,150 shares of the company’s stock traded hands, compared to its average volume of 498,468. NeoGenomics has a 52 week low of $7.08 and a 52 week high of $14.18. The company has a quick ratio of 1.85, a current ratio of 2.03 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.13 billion, a P/E ratio of 231.50, a price-to-earnings-growth ratio of 6.69 and a beta of 0.48.
- [By Shane Hupp]
NEO (CURRENCY:NEO) traded up 6.9% against the US dollar during the 24 hour period ending at 7:00 AM Eastern on April 15th. NEO has a total market cap of $4.40 billion and $88.39 million worth of NEO was traded on exchanges in the last day. One NEO coin can now be purchased for about $67.68 or 0.00809123 BTC on popular cryptocurrency exchanges including HitBTC, OKEx, Exrates and Upbit. During the last seven days, NEO has traded up 42.9% against the US dollar.
- [By Shane Hupp]
NeoGenomics (NASDAQ:NEO) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.29.
Hot Financial Stocks To Own For 2019: Corporate Office Properties Trust(OFC)
Advisors' Opinion:- [By Shane Hupp]
A.R.T. Advisors LLC cut its position in Corporate Office Properties Trust (NYSE:OFC) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,700 shares of the real estate investment trust’s stock after selling 41,800 shares during the quarter. A.R.T. Advisors LLC owned approximately 0.09% of Corporate Office Properties Trust worth $2,471,000 at the end of the most recent quarter.
- [By Logan Wallace]
Media headlines about Corporate Office Properties Trust (NYSE:OFC) have been trending somewhat positive on Sunday, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Corporate Office Properties Trust earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 45.8310227240563 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
- [By Stephan Byrd]
Barclays PLC grew its holdings in shares of Corporate Office Properties Trust (NYSE:OFC) by 20.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 244,725 shares of the real estate investment trust’s stock after buying an additional 41,577 shares during the quarter. Barclays PLC owned 0.24% of Corporate Office Properties Trust worth $6,321,000 at the end of the most recent reporting period.
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