In this piece, we will take a look at the top five finance and investment stocks to buy today according to Israel Englander’s Millennium Management. If you want to learn about Mr. Englander, his firm, and its other finance and investment stock picks, then head on over to 10 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management.
5. JPMorgan Chase & Co. (NYSE:JPM)
Millennium Management’s Stake Value: $220 million
Percentage of Millennium Management’s 13F Portfolio: 0.11%
Number of Hedge Fund Holders: 107
JPMorgan Chase & Co. (NYSE:JPM) is one of the oldest banks in the world, as it was set up in the United States during the country’s infancy in 1799. It offers a host of financial services, such as deposit and investment products, loans, leasing, mortgages, and more.
Millennium Management’s Q4 2021 stake in JPMorgan Chase & Co. (NYSE:JPM) was worth $220 million. It came in the form of 1.3 million shares and represented 0.11% of the firm’s investment portfolio. Insider Monkey’s 924 hedge fund survey for the same time period outlined that 107 had also held the bank’s shares.
JPMorgan Chase & Co. (NYSE:JPM) reported $30 billion in revenue and $2.63 in non-GAAP EPS for its fiscal first quarter, beating analyst revenue estimates but meeting them for revenue. Argus lowered its price target to $155 from $177 in April 2022, outlining that the company’s balance sheet was hurt by the Russia-Ukraine conflict.
JPMorgan Chase & Co. (NYSE:JPM)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 7.4 million shares worth $1.1 billion.
ClearBridge Investments mentioned the company in its Q4 2021 investor letter. Here is what the fund said:
“Our energy and financials holdings kept pace in the 2021 rally. In financials, JPMorgan benefited from strong economic growth, a rise in Treasury yields, and a benign credit environment.
4. PayPal Holdings, Inc. (NASDAQ:PYPL)
Millennium Management’s Stake Value: $265 million
Percentage of Millennium Management’s 13F Portfolio: 0.13%
Number of Hedge Fund Holders: 110
PayPal Holdings, Inc. (NASDAQ:PYPL) is a financial technology firm that provides a payment platform for consumers and companies to transfer funds to each other. Some of the services that it offers are transferring and withdrawing funds alongside holdings balances.
PayPal Holdings, Inc. (NASDAQ:PYPL) reported $6 billion in revenue and $1.11 in non-GAAP EPS for its fourth fiscal quarter, beating analyst revenue estimates but missing them for EPS. SMBC Nikko lowered the company’s price target to $105 from $125 in April 2022, outlining that the company’s management is yet to send significant positive signals in light of the company’s recent troubles.
Millennium Management held 1.4 million PayPal Holdings, Inc. (NASDAQ:PYPL) shares as part of its fourth quarter of 2021 investments. These were worth $265 million and they represented 0.13% of the firm’s investment portfolio. Insider Monkey’s Q4 2021 hedge fund portfolio analysis listed 110 as the company’s investors.
Ken Fisher’s Fisher Asset Management is PayPal Holdings, Inc. (NASDAQ:PYPL)’s largest shareholder. It has a $2.7 billion stake that comes courtesy of 14 million shares.
Wedgewood Partners mentioned the company in its first quarter 2022 investor letter, which stated that:
“PayPal also detracted from performance during the quarter as investors panicked in the face of the well-telegraphed run-off of eBay’s revenues. We have been aware of the runoff of eBay’s revenues since at least the third quarter of 2017.2 Although markets are supposedly efficient, maybe markets are only as efficient as long as the same shareholders are in the stock. When a shareholder base turns over several, if not dozens, of times over a 5-year time frame, perhaps old news periodically becomes “new” to a market riddled with transient shareholders. In any case, we increased our weightings in the stock for the first time since 2018 as the only thing “new”to us was the highly attractive multiple for a competitively wellpositioned business in the e-commerce industry.”
3. Visa Inc. (NYSE:V)
Millennium Management’s Stake Value: $302 million
Percentage of Millennium Management’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 142
Visa Inc. (NYSE:V) is an American payments firm that is headquartered in San Francisco, California, United States. Its payments platform is one of the most well known in the world, and it allows customers and merchants to authorize, clear, and settle their payments.
For its fiscal Q1, Visa Inc. (NYSE:V) reported $7 billion in revenue and $1.81 in non-GAAP EPS, for a strong set of results that beat Wall Street analyst estimates for both. Barclays reduced its price target to $260 from $265 in April 2022 and kept an Overweight rating on the shares.
Mr. Englander’s hedge fund owned 1.3 million Visa Inc. (NYSE:V) shares that were worth $302 million and represented 0.15% of its investment portfolio by the end of the fourth quarter of last year. During the same time period, 142 of the 924 hedge funds polled by Insider Monkey had invested in the firm.
Visa Inc. (NYSE:V)’s largest investor is Chris Hohn’s TCI Fund Management which owns 23 million shares that are worth $5 billion.
Wedgewood Partners mentioned the company in its first quarter 2021 investor letter and outlined that:
“Visa continued to benefit from strong consumer spending as well as a recovery in crossborder payment volumes, more recently driven by the return of travelers. While the emergence of the “Omicron” variant of COVID early in the quarter posed a risk to this travel recovery, it proved short-lived, with most of Europe, North America, and Latin American reengaging in cross-border travel. Visa continues to extend its network to all comers. By processing over $10 trillion in volume per year, Visa has unparallel scale and, as a result, can sell this scale to its customers at very attractive economics. For example, “FinTech” businesses will often charge customers upwards of 3-5% to transact, while Visa takes mere basis points on most transactions, despite enabling service levels historically reserved for only the largest financial institutions. After adding to Visa late last year, we are most pleased that Visa is back to one of our top 5 holdings.”
2. Blackstone Inc. (NYSE:BX)
Millennium Management’s Stake Value: $303 million
Percentage of Millennium Management’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 62
Blackstone Inc. (NYSE:BX) is a financial services firm that invests in early stage companies, real estate, corporate private equity, and other areas. It operates globally and is headquartered in New York, New York, United States.
Millennium Management owned 2.3 million Blackstone Inc. (NYSE:BX) shares as part of its Q4 2021 investment portfolio. These were worth $303 million and they represented 0.15% of its total shareholdings. Insider Monkey’s survey of 924 hedge funds for the same time period outlined that 62 had also invested in the company.
As part of its fiscal first quarter results, Blackstone Inc. (NYSE:BX) revealed that it had earned $1.55 in non-GAAP EPS, beating analyst estimates for the metric. Deutsche Bank reduced the company’s price target to $182 from $186 in April 2022, outlining that the company will maintain its lead in some of its key segments.
John Allison’s Unio Capital is Blackstone Inc. (NYSE:BX)’s largest shareholder courtesy of 117,333 shares that are worth $613 million.
Artisan Partners mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“Investment heavyweight Blackstone’s virtuous cycle is in full swing. Throughout Blackstone’s history, excellent investment performance and capital protection have allowed the firm to increase fundraising in existing verticals as well as launch new endeavors. Historically, less than 10% of assets under management mature in any given year, and that number should move lower with continued growth in perpetual capital vehicles. Blackstone’s A+ rated balance sheet and capital-light model are the backbone of its 85% of cash flow distribution policy via a variable quarterly dividend. In short, this is a long-duration fee stream and robust capital-raising engine.”
1. Morgan Stanley (NYSE:MS)
Millennium Management’s Stake Value: $306 million
Percentage of Millennium Management’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 65
Morgan Stanley (NYSE:MS) is an American investment bank that is based out of New York, New York, United States. It offers financial products and services to all kinds of customers such as individuals, financial institutions, corporations, and governments.
Morgan Stanley (NYSE:MS) raked in $14.8 billion in revenue and $2.06 in non-GAAP EPS as part of its fiscal first quarter earnings, beating analyst estimates for both revenue and EPS. The bank is allegedly a key player in billionaire Elon Musk’s $43 billion attempt to acquire Twitter, reported the New York Times in April 2022.
By the end of the fourth quarter of last year, Millennium Management owned 3 million Morgan Stanley (NYSE:MS) shares which were worth $306 million. During the same time period, 65 of the 924 hedge funds polled by Insider Monkey had also held the bank’s shares.
Boykin Curry’s Eagle Capital Management is Morgan Stanley (NYSE:MS)’s largest investor. It owns 14 million shares that are worth $1 billion.
Disclosure: None. You can also take a look at 10 Dividend Stocks to Buy According to Billionaire Jeffrey Talpins and 12 Best Large-cap Biotech Stocks To Buy Now.
