10 Cheap NYSE Stocks To Invest In Now

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

Current Forward P/E as of December 16: 14.33

Number of Hedge Fund Holders: 105

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm that provides a comprehensive suite of banking, investment, and asset management solutions to a diverse client base, including individuals, corporations, and governments. Recently, the bank solidified its position as the largest US retail deposit bank for the fourth consecutive year.

The company’s Asset and Wealth Management (AWM) division generated $1.4 billion in net income with a pre-tax margin of 33% in the third quarter of 2024. This performance was underpinned by a 9% year-over-year revenue increase to $5.4 billion. This growth came as AWM attracted $72 billion in net inflows, with fixed income and equities leading the way. At the same time, higher average market levels positively impacted investment valuations and management fees. A rise in brokerage activity further enhanced AWM’s revenue stream.

The division experienced substantial growth in assets under management, reaching $3.9 trillion, a 23% year-over-year increase. This significant AUM growth was a direct result of both market appreciation and sustained client inflows, solidifying AWM’s position as a key driver of JPMorgan Chase & Co.’s (NYSE:JPM) overall success.

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.”