10 Best Fortune 500 Stocks To Buy Now

7. JPMorgan Chase & Co. (NYSE:JPM)

Market Capitalization as of September 14: $582.50 billion

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM) is a multinational finance company and one of the world’s largest banks by market capitalization, offering a wide range of financial services to individuals, businesses, and institutions that include commercial banking, investment banking, asset management, wealth management, and consumer banking.

As of March 31, it had $4.1 trillion in assets and $3.6 trillion in assets under management, solidifying its status as the largest bank in the US. In just Q1 this year, the company generated $655 million in total credit and capital for consumers, small businesses, government entities, and nonprofit organizations.

JPMorgan Chase & Co. (NYSE:JPM) is automating internal tasks and enhancing customer experiences. In August, it launched a GenAI assistant to help ~60,000 employees complete tedious tasks more efficiently. For customers, it introduced in-store pay-by-face biometric payment solutions for merchants in the US. Earlier in May, the company also launched a new data-managed service for institutional investors to streamline their operating models and access consistent data.

As of June 30, the company was held by 111 hedge funds, of which the largest stake is valued at $2,576,879,756 by Fisher Asset Management.

The company’s future is looking at sustained success due to its cost advantages and strategic investments in organic growth. With robust financial performance and its size and scale, JPM is set to benefit.

Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its first quarter 2024 investor letter:

“JPMorgan Chase & Co. (NYSE:JPM) contributed positively to performance following solid financial results and positive guidance for the remainder of 2024. Moreover, growing chatter around rising capital markets activity likely contributed to the stock’s strong performance relative to other banks. Recall that JPMorgan has a robust capital markets franchise.”