Confluence Wealth Services Inc. Has $9.49 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Confluence Wealth Services Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the financial services provider’s stock after selling 1,153 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Confluence Wealth Services Inc.’s portfolio, making the stock its 19th biggest holding. Confluence Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $9,489,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $223.38.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $247.06 on Thursday. The company has a market capitalization of $695.56 billion, a PE ratio of 13.75, a P/E/G ratio of 3.25 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $216.71 and a two-hundred day moving average price of $207.71. JPMorgan Chase & Co. has a 12 month low of $142.82 and a 12 month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.