Representative Lisa C. McClain Invests in JPMorgan Chase Shares

Representative Lisa C. McClain (R-Michigan) has recently purchased shares in JPMorgan Chase & Co. (NYSE:JPM), according to a filing made public on November 21, 2023. The transaction, which took place on October 30, 2023, saw McClain acquiring between $1,001 and $15,000 worth of stock through her “CHARLES SCHWAB 401K > SCHWAB 893” account.

As of the latest trading session, shares of JPMorgan Chase increased by $5.22, reaching a price of $303.22. The stock demonstrated a trading volume of 8,869,393 shares, which is slightly below its average volume of 9,361,747. Currently, the stock has a 50-day moving average of $307.20 and a 200-day moving average of $292.10. Over the past year, the stock has fluctuated between a low of $202.16 and a high of $322.25. The market capitalization for JPMorgan Chase stands at approximately $825.45 billion, with a price-to-earnings ratio of 15.02.

Recent Developments and Dividend Increase

In addition to McClain’s investment, JPMorgan Chase announced a quarterly dividend of $1.50 per share, which was paid out on October 31, 2023. This marks an increase from the previous dividend of $1.40 per share, representing an annualized dividend of $6.00 and a yield of 2.0%. The company’s payout ratio currently stands at 29.72%.

Several institutional investors have also recently adjusted their holdings in JPMorgan Chase. Notably, Kingstone Capital Partners Texas LLC increased its position by an astonishing 609,867.5% during the second quarter, now owning 72,897,211 shares valued at approximately $21.13 billion. Other significant institutional changes include Norges Bank, which acquired a stake worth $10.30 billion, and Laurel Wealth Advisors LLC, which boosted its holdings by 28,813.7%.

Insider Transactions and Analyst Ratings

On the insider front, Robin Leopold, a company insider, sold 966 shares on November 7, 2023, at an average price of $311.92, totaling approximately $301,314.72. Following this transaction, Leopold holds 58,479 shares valued around $18.24 million. Similarly, Linda Bammann, a director at JPMorgan Chase, sold 9,500 shares on September 2, 2023, worth about $2.83 million.

Analysts have recently been active in rating JPMorgan Chase. On October 21, 2023, Dbs Bank upgraded the stock to a “hold” rating. Other firms, including Daiwa Capital Markets and Keefe, Bruyette & Woods, have raised their price targets, with estimates ranging from $330.00 to $366.00. According to MarketBeat, the consensus rating for the stock is “Hold,” with a target price of $326.38.

Representative McClain, who has served in the U.S. House since January 3, 2023, represents Michigan’s 9th Congressional District. Her term is set to conclude on January 3, 2027. McClain has announced her intention to seek re-election in the upcoming 2026 election, continuing her political career. Prior to her congressional duties, she earned a bachelor’s degree in business administration from Northwood University and has experience as the founder and president of North End Support Team.

JPMorgan Chase & Co. is a major financial holding company that offers a range of services, including investment banking, consumer banking, and asset management, operating through various segments to cater to diverse financial needs.