Drive Wealth Management LLC Has $1.98 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Drive Wealth Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,865 shares of the financial services provider’s stock after selling 859 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.6% of Drive Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. Drive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC grew its holdings in JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the last quarter. Macroview Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 7,833.3% in the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares during the period. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Bare Financial Services Inc bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $35,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Oppenheimer reduced their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $190.00 in a research report on Tuesday, January 9th. Royal Bank of Canada restated an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. Finally, UBS Group cut their target price on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPM stock traded up $0.12 on Friday, reaching $193.49. 6,413,655 shares of the stock were exchanged, compared to its average volume of 10,240,044. The stock has a market cap of $555.72 billion, a PE ratio of 11.68, a P/E/G ratio of 2.42 and a beta of 1.15. JPMorgan Chase & Co. has a one year low of $131.81 and a one year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a 50 day moving average price of $190.36 and a 200 day moving average price of $170.57.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. Insiders sold a total of 1,020,696 shares of company stock worth $186,794,151 over the last 90 days. 0.79% of the stock is owned by insiders.

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.