Confluence Wealth Services Inc. Buys 5,020 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Confluence Wealth Services Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,153 shares of the financial services provider’s stock after acquiring an additional 5,020 shares during the period. JPMorgan Chase & Co. accounts for 0.7% of Confluence Wealth Services Inc.’s holdings, making the stock its 20th biggest holding. Confluence Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $9,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Wealth Strategies LLC. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,145,000. Cooper Financial Group boosted its stake in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares in the last quarter. Spartan Planning & Wealth Management lifted its position in JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares during the last quarter. jvl associates llc lifted its position in JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 715 shares during the last quarter. Finally, MMA Asset Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $207,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on JPM. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.35.

JPMorgan Chase & Co. Trading Down 0.4 %

Shares of JPMorgan Chase & Co. stock opened at $219.33 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average price of $210.67 and a 200 day moving average price of $199.54. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock has a market cap of $629.84 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter last year, the business earned $4.37 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

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.