Confluence Wealth Services Inc. Has $11.71 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Confluence Wealth Services Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,041 shares of the financial services provider’s stock after selling 959 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Confluence Wealth Services Inc.’s portfolio, making the stock its 21st biggest holding. Confluence Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $11,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. JPMorgan Chase & Co. grew its position in JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares in the last quarter. Sageworth Trust Co lifted its stake in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $275.41 on Thursday. The firm has a fifty day simple moving average of $251.18 and a 200 day simple moving average of $231.55. The stock has a market capitalization of $775.37 billion, a PE ratio of 13.95, a P/E/G ratio of 2.94 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $172.62 and a 1-year high of $278.55.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the company posted $3.04 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 18.05 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $251.78.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.