10 Most Promising Low-Cost Stocks According to Hedge Funds

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

Number of Hedge Fund Holders: 111

Forward P/E Ratio as of October 13, 2024: 12.68

JPMorgan Chase & Co. (NYSE:JPM) ranks second on our list of the most promising low-cost stocks according to hedge funds. The multinational provides financial services to millions in 100 countries from across the globe. Some of its services include investment banking solutions, risk management services, and capital-raising services to companies, institutions, and the government.

JPMorgan Chase & Co. (NYSE:JPM) is leveraging artificial intelligence to help its employees complete tedious tasks. On the customer front, the company introduced several features over the past few months to ease payment mechanisms across treasury, trade, and commerce. In addition to that, JPMorgan recently expanded biometric solutions for merchants in the US, making shopping convenient for buyers and sellers alike.

In the fiscal third quarter of 2024, JPMorgan Chase & Co. (NYSE:JPM) generated revenue worth $42.7 billion and net income worth $12.9 billion. The company’s asset and wealth management segment now has $3.9 trillion in assets under management and $5.7 trillion in client assets, making it one of the largest banks with the strongest clientele.

Carillon Tower Advisers 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.”