Drive Wealth Management LLC Has $1.72 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 27th, 2023

Drive Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the first quarter, Holdings Channel.com reports. The firm owned 13,178 shares of the financial services provider’s stock after acquiring an additional 97 shares during the quarter. Drive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,717,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in JPM. McElhenny Sheffield Capital Management LLC grew its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. McElhenny Sheffield Capital Management LLC now owns 8,357 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 87 shares in the last quarter. Luts & Greenleigh Group Inc. increased its holdings in JPMorgan Chase & Co. by 16.6% in the first quarter. Luts & Greenleigh Group Inc. now owns 3,892 shares of the financial services provider’s stock worth $507,000 after buying an additional 553 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in JPMorgan Chase & Co. by 10.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,007,141 shares of the financial services provider’s stock worth $131,241,000 after buying an additional 98,293 shares during the last quarter. Peoples Financial Services CORP. raised its position in JPMorgan Chase & Co. by 0.9% during the first quarter. Peoples Financial Services CORP. now owns 19,497 shares of the financial services provider’s stock valued at $2,541,000 after acquiring an additional 170 shares in the last quarter. Finally, Carmel Capital Management L.L.C. lifted its stake in JPMorgan Chase & Co. by 0.3% in the first quarter. Carmel Capital Management L.L.C. now owns 61,753 shares of the financial services provider’s stock valued at $8,047,000 after acquiring an additional 180 shares during the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock valued at $19,858,275 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

NYSE JPM opened at $139.18 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a 50-day simple moving average of $138.70 and a 200 day simple moving average of $136.58. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The stock has a market cap of $406.72 billion, a PE ratio of 10.27, a PEG ratio of 1.92 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same quarter last year, the company earned $2.63 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 14.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Credit Suisse Group raised their price target on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Evercore ISI reduced their target price on JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Finally, Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.35.

About JPMorgan Chase & Co.

(Get Rating)

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.