Principal Financial Trims JPMorgan Chase Stake by 2.8%

Principal Financial Group pared its JPMorgan Chase holdings during the second quarter, selling 137,945 shares as part of a portfolio repositioning. The move trimmed the firm's stake by 2.8% from the preceding period, reflecting a modest pullback in its exposure to the banking giant.

Despite the sale, Principal continues to hold a substantial 4.82 million shares in JPMorgan, currently valued at roughly $1.58 billion. That leaves the investment manager as a notable shareholder, even as it reduces its overall footprint.

Other large financial institutions moved the other way in the same quarter. Morgan Stanley and Bank of America both increased their JPMorgan positions, contributing to a broad institutional ownership base that now controls 71.55% of the company's stock. The buying activity underscores sustained confidence among major investors.

JPMorgan currently carries a consensus rating of "Moderate Buy" from analysts. The bank recently delivered quarterly results that exceeded expectations, reporting earnings per share of $6.14 and revenue of $58.02 billion, highlighting its operational resilience in a challenging environment.