Confluence Wealth Services Inc. Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Confluence Wealth Services Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,779 shares of the financial services provider's stock after buying an additional 5,738 shares during the period. JPMorgan Chase & Co. comprises 0.7% of Confluence Wealth Services Inc.'s investment portfolio, making the stock its 22nd largest position. Confluence Wealth Services Inc.'s holdings in JPMorgan Chase & Co. were worth $11,991,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JPM. Brighton Jones LLC increased its holdings in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares during the period. Union Bancaire Privee UBP SA bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $66,088,000. SOA Wealth Advisors LLC. increased its stake in JPMorgan Chase & Co. by 1.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock worth $5,115,000 after purchasing an additional 255 shares during the period. Bank Pictet & Cie Europe AG increased its stake in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the period. Finally, Highview Capital Management LLC DE lifted its position in JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of NYSE JPM traded up $4.13 during mid-day trading on Friday, hitting $296.13. 6,541,646 shares of the stock traded hands, compared to its average volume of 9,527,821. The company has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.72 and a beta of 1.10. The stock has a fifty day moving average price of $265.91 and a 200-day moving average price of $254.16. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the firm posted $4.44 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on JPM. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $277.74.

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.