JPMorgan Reports Lower Q4 Earnings
By Joseph Griesbeck, CFA - Editor, Ownership Intelligence
JPMorgan Chase (JPM-N) was the first US bank to release Q4 2011 earnings today, announcing a 23% drop from the previous year. Even though the results met expectations, the stock fell more than 3%. JPM set the bar for what investors in the US Financials sector can expect this quarter.
Before the start of Q4 2011, the largest active JPM shareholder was Wellington Management Company which held 92 million shares worth $3.4 billion prior to today’s announcement. Since the same period in 2010, it bought more than 25 million shares, giving it a 2.4% stake in the company.
After selling 42 million shares since Q4 2010, Capital World remained a top shareholder at the beginning of JPM’s latest reported earnings period. Its fellow Capital Group Company subsidiary, Capital Research, holds 73 million shares and sold 2.8 million shares over the year.
Among active institutions, Fidelity invests the most in the US Financials, holding $57 billion in the sector. Core growth firm Morgan Stanley Smith Barney dedicates 46% of its equity assets to these companies that are set to announce earnings soon.