Equitable Holdings Trims Stake in JPMorgan as Other Investors Boost Positions

Equitable Holdings Inc., a major investor in financial services, has made significant changes to its holdings in JPMorgan Chase & Co. (NYSE:JPM). According to recent SEC filings, Equitable Holdings cut its position in JPMorgan by 8.9% during the second quarter.

The firm sold 25,590 shares of JPMorgan's stock, reducing its overall holdings to 263,530 shares worth approximately $86,261,000 as of the most recent SEC filing. Other large investors have also made adjustments to their positions in JPMorgan Chase & Co., with Norges Bank buying a new stake valued at around $11,396,496,000 and Ascentis Wealth Management LLC increasing its holdings by 32,672.0%.

JPMorgan Chase & Co. recently reported quarterly earnings of $6.14 per share, exceeding analyst estimates of $5.59. The company's revenue for the quarter was up 27.7% compared to the same period last year. JPMorgan has also been expanding its cross-border payments capabilities through a partnership with Thunes and has seen AI infrastructure spending forecasted to reach $1 trillion next year by CEO Jamie Dimon.