Are JPMorgan Chase’s Giant Institutional Investors Bull Stampeding Over the Senate Hearing?
After 5 months of trading in 2012, JPMorgan Chase&Co.’s (NYSE:JPM) shares are down 1.05 percent. On Wednesday, regulators will testify before the Senate Banking Committee and allege that the company’s more than $2 billion trading loss may have been attributed from a failure in its risk-management practices. Thomas J. Curry of the Comptroller of the Currency, which is JPMorgan’s lead regulator, said to Bloomberg that the bank’s losses raise “questions about the adequacy and rigor” of its risk operations.
Curry’s agency is conducting a wide review of the bank’s management systems after the May 10 disclosure of losses found in its chief investment office.
He said in a statement, “Since that time, the OCC has been meeting daily with bank management with respect to the bank’s response to this situation, to re-evaluate the risk-management activities and controls of the bank and how they applied to its CIO function, and to determine what additional action is necessary.”
With the regulatory review shedding light on the bank’s risk management practices, will JPMorgan’s largest shareholders increase or decrease their holdings? 337 institutional firms indicated owning shares of JPMorgan Chase & Co. (NYSE:JPM) in Q1 2012. These firms reported owning a total of 2.135 billion shares on 03/31/2012 . The shares closed at $45.68 on 03/31/2012, for an aggregate market value of $97.506 billion.
Here are the ten largest positions in JPMorgan Chase & Co. at the end of March 31st, 2012.
Vanguard Group Inc held 158,845,102 shares on 03/31/2012 worth $7,303,697,717.
State Street Corp held 155,275,111 shares on 03/31/2012 worth $7,139,549,533.
FMR LLC held 140,430,650 shares on 03/31/2012 worth $6,457,001,223.
Blackrock Institutional Trust Company N.A. held 102,844,434 shares on 03/31/2012 worth $4,728,787,028.
Bank of New York Mellon Corp held 52,672,498 shares on 03/31/2012 worth $2,421,881,434.
Invesco Ltd. held 52,598,486 shares on 03/31/2012 worth $2,418,478,362.
Alliancebernstein L.P. held 44,796,298 shares on 03/31/2012 worth $2,059,733,762.
Ameriprise Financial Inc held 44,092,532 shares on 03/31/2012 worth $2,027,374,601.
Massachusetts Financial Services Co /MA/ held 41,822,705 shares on 03/31/2012 worth $1,923,007,957.
Blackrock Group Ltd held 32,892,147 shares on 03/31/2012 worth $1,512,380,904.
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