Confluence Wealth Services Inc. Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Confluence Wealth Services Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,639 shares of the financial services provider’s stock after selling 140 shares during the quarter. JPMorgan Chase & Co. makes up about 0.8% of Confluence Wealth Services Inc.’s portfolio, making the stock its 21st biggest position. Confluence Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $14,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after buying an additional 72,885,260 shares during the last quarter. Nuveen LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. National Bank of Canada FI boosted its stake in shares of JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $278,493,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on JPM shares. HSBC reiterated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. UBS Group raised their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. The Goldman Sachs Group increased their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Evercore ISI upped their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $316.00.

JPMorgan Chase & Co. Trading Up 2.4%

NYSE:JPM opened at $308.08 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm has a market capitalization of $847.15 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50-day moving average is $301.89 and its two-hundred day moving average is $277.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 30.79%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.