5 Best Financial Stocks To Buy Now

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

Number of Hedge Fund Holders: 104   

JPMorgan Chase & Co. (NYSE:JPM) operates as a financial services company worldwide. It is one of the top financial stocks to invest in. The bank recently announced that it was planning to hire 2,000 engineers globally through the year, even as the economy softens. The statement was made by Lori Beer, the global chief informer officer, to news agency Reuters. The company has recently hired 5,000 software developers and data scientists and plans to add more in the coming months. 

On September 12, Deutsche Bank analyst Matt O’Connor maintained a Buy rating on JPMorgan Chase & Co. (NYSE:JPM) stock and lowered the price target to $155 from $174, noting that the banks have underperformed this year largely driven by recession fears.

At the end of the second quarter of 2022, 104 hedge funds in the database of Insider Monkey held stakes worth $5.8 billion in JPMorgan Chase & Co. (NYSE:JPM), compared to 110 in the preceding quarter worth $5 billion. 

In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:

“More cyclical sectors, including technology and consumer discretionary, were among the weakest, likely due to rising interest rates and inflation. It was encouraging to see the quarter finish on a strong note with the S&P 500 only about 5% away from its all-time highs. Shares of JPMorgan Chase (NYSE:JPM) detracted from performance due to the company’s increased expense guidance, announced in January.”