CX Institutional Boosts JPMorgan Chase Stake by 52 Percent
CX Institutional significantly increased its stake in JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, boosting its holdings by 52.0%. The firm acquired an additional 15,324 shares, bringing its total ownership to 44,782 shares, valued at approximately $14,815,000, as disclosed in its latest SEC filing.
Several other institutional investors also adjusted their positions in JPMorgan Chase & Co. State Street Corp expanded its holdings by 0.8% during the second quarter, now owning 125,209,293 shares worth $40,984,758,000. Bank of America Corp DE increased its stake by 6.1%, holding 69,666,753 shares valued at $22,804,018,000. Norges Bank established a new position in the fourth quarter worth about $11,396,496,000.
In insider news, Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock on September 10th at an average price of $352.81, totaling $882,025.00. The transaction reduced Leopold's ownership by 3.40%, leaving them with 71,047 shares valued at approximately $25,066,092.07.
Analysts have offered mixed opinions on JPMorgan Chase & Co. Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating. Meanwhile, Bank of America raised its price target to $420.00 with a "buy" rating, and Deutsche Bank upgraded the stock from "hold" to "buy" with a price objective of $375.00. The stock currently has a consensus "Moderate Buy" rating and a price target of $363.29.