Rep. Lisa McClain Acquires JPMorgan Chase Shares Amid Market Activity

Representative Lisa C. McClain (R-Michigan) has recently purchased shares of JPMorgan Chase & Co. (NYSE:JPM), according to a filing disclosed on November 21, 2023. On October 30, 2023, McClain acquired between $1,001 and $15,000 worth of the bank’s stock through her “CHARLES SCHWAB 401K > SCHWAB 893” account.

The acquisition of shares comes at a time when JPMorgan Chase has been experiencing dynamic trading activity. On the day of McClain’s purchase, the stock price increased by $5.22, reaching $303.22 during trading hours. The trading volume for the day was approximately 8,869,393 shares, slightly below its average of 9,361,747. Currently, the company holds a market capitalization of $825.45 billion.

Company Performance and Recent Developments

JPMorgan Chase has shown significant resilience in the market, with a 50-day moving average price of $307.20 and a 200-day moving average of $292.10. The stock has fluctuated between a fifty-two week low of $202.16 and a high of $322.25. The firm’s price-to-earnings ratio stands at 15.02, with a PEG ratio of 1.84 and a beta of 1.14. Additionally, the company recently announced an increase in its quarterly dividend to $1.50 per share, up from $1.40, reflecting a positive shift for shareholders. The dividend was distributed on October 31, 2023, to stockholders recorded as of October 6, 2023.

The dividend yield is currently at 2.0%, with a payout ratio of 29.72%, indicating a stable income for investors.

Institutional Involvement and Insider Trading

Institutional interest in JPMorgan Chase has also been notable. Several institutional investors have recently adjusted their holdings. For instance, Kingstone Capital Partners Texas LLC increased its position in the bank’s shares by an extraordinary 609,867.5%, acquiring an additional 72,885,260 shares during the second quarter, bringing its total to 72,897,211 shares valued at $21.13 billion.

Other significant transactions include Norges Bank, which established a new stake worth $10.3 billion, and Laurel Wealth Advisors LLC, which raised its stake by 28,813.7%, accumulating shares worth approximately $4.87 billion.

In terms of insider trading, Robin Leopold, an insider at JPMorgan Chase, sold 966 shares on November 7, 2023, for a total of $301,314.72. This sale resulted in a 1.63% decrease in Leopold’s holdings. Another insider, Linda Bammann, sold 9,500 shares on September 2, 2023, valued at $2.83 million, representing a 10.36% reduction in her position.

Analysts have also taken a keen interest in the company’s stock. Recent reports indicate that DBS Bank upgraded JPMorgan Chase to a “hold” rating, while Daiwa Capital Markets increased its price target to $332.00. Overall, 15 analysts have rated the stock as a buy, while 9 have issued hold ratings, and 3 have assigned sell ratings. The consensus target price is currently $326.38.

About Representative McClain and JPMorgan Chase

Lisa C. McClain has been serving as a member of the U.S. House of Representatives since January 3, 2023, representing Michigan’s 9th Congressional District. She is seeking re-election for the 2026 term. With a degree in business administration from Northwood University, McClain has a background in founding and leading the North End Support Team.

Founded in 2000, JPMorgan Chase & Co. is a major global financial services firm that provides a range of financial and investment banking services. The company operates through multiple segments, including Consumer and Community Banking, Commercial and Investment Banking, Asset and Wealth Management, and Corporate.

As the financial landscape continues to evolve, both McClain’s investment and JPMorgan Chase’s performance will be closely monitored by investors and analysts alike.