JPMorgan Chase Sees Reduced Institutional Holdings Amid Cross-Border Payment Expansion
GTS Securities LLC reduced its JPMorgan Chase & Co. holdings by 73.1% in the second quarter, according to a recent SEC filing. This move resulted in GTS owning 6,769 shares of the financial services provider's stock, valued at $2,216,000.
This change is part of a larger trend among institutional investors, with hedge funds and other institutions owning 71.55% of JPMorgan Chase & Co.'s stock. The company has seen various developments this quarter, including the expansion of cross-border payments through its partnership with Thunes and a $200 million sustainable-forestry investment in Paraguay.
Analysts have been weighing in on the company's performance, with Citigroup lifting their target price to $360.00 and Bank of America increasing their price target to $420.00. However, Jefferies lowered its JPMorgan price target to $365 from $370 while retaining a 'Hold' rating.