1. JPMorgan Chase & Co. (NYSE:JPM)
Coe Capital Management’s Stake Value: $3,482,000
Percentage of Coe Capital Management’s 13F Portfolio: 3.28%
Dividend Yield: 2.4%
Number of Hedge Fund Holders: 108
JPMorgan Chase & Co. (NYSE:JPM) is a New York-based multinational investment bank and financial services corporation, incorporated in Delaware. As of 2021, JPMorgan Chase & Co. (NYSE:JPM) is the leading bank in the US, and the fifth largest bank worldwide according to total assets.
JPMorgan Chase & Co. (NYSE:JPM) is a popular stock among hedge funds. At the end of the second quarter, 108 funds were long JPMorgan Chase & Co. (NYSE:JPM), down from 111 in the previous quarter.
After the positive Q3 results, Barclays analyst Jason Goldberg kept an Overweight rating on JPMorgan Chase & Co. (NYSE:JPM), with a price target of $193, up from $187 on October 15.
Vltava Fund mentioned JPMorgan Chase & Co. (NYSE:JPM) in its Q3 2021 investor letter. Here is what the fund said:
“While all the previous names could be categorised as founder, continuing, or key shareholders, these last two names fall into the category of hired professional managers. This is actually the most numerous category among the bosses of large companies, but even among them there exist a number of individuals with exceptional long-term track records. In our view, these include also Jamie Dimon and Herman Gref.
We consider JP Morgan to be the strongest, largest, and most profitable bank in the world. It has not always been so, and the fact that it is what it is today can be attributed especially to its CEO Jamie Dimon. Dimon has spent his entire career in banking. He came to JP Morgan in a roundabout way in 2004 after the bank bought Bank One, of which he was CEO at the time. Since early 2006, Dimon has been CEO of the entire JP Morgan.
The quality and strength of JP Morgan under his leadership became fully apparent for the first time in 2008. Not only did JP Morgan help to stabilise the market by taking over the failing Bear Stearns in the spring of that year, but it was the only major US bank that did not require government assistance throughout the Great Financial Crisis and that was highly profitable even in the difficult year of 2008. Today, JP Morgan is even bigger, even more profitable, and even stronger than ever before. Many investors view banks with disdain, but a good bank with good management can be a very good long-term investment. From the time of its merger with Bank One in 2004 through the end of 2020, JP Morgan’s stock has outperformed even the S&P 500 index. The bank has earned a total net profit of USD 330 billion during this period, of which USD 232 billion has been paid out to shareholders in dividends and in share buybacks. I can recommend two books about Jamie Dimon: The House of Dimon and Last Man Standing.”
You can also take a look at Kevin Oram’s Praesidium Investment’s Top Stock Picks: ServiceNow, Wix, and More and 11 Best 5G Stocks To Buy According To Hedge Funds.
