Drive Wealth Management LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Drive Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,865 shares of the financial services provider’s stock after selling 859 shares during the period. JPMorgan Chase & Co. makes up about 0.6% of Drive Wealth Management LLC’s holdings, making the stock its 29th biggest position. Drive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $1,017,893,000. Wellington Management Group LLP grew its position in JPMorgan Chase & Co. by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after buying an additional 4,603,090 shares during the last quarter. Capital International Investors lifted its holdings in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at $253,076,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $0.12 during midday trading on Friday, reaching $193.49. 6,413,655 shares of the company were exchanged, compared to its average volume of 10,240,044. The company has a market capitalization of $555.72 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 2.42 and a beta of 1.15. The firm’s 50-day simple moving average is $190.36 and its 200-day simple moving average is $170.57. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 22nd. The stock was 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 in the company, valued at approximately $10,864,394.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,030 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following 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 1,020,696 shares of company stock worth $186,794,151 in the last 90 days. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Barclays raised their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI raised their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

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.