1. JPMorgan Chase & Co. (NYSE:JPM)
Global Frontier Investments’ Stake Value: $40,104,000
Percentage of Global Frontier Investments’ 13F Portfolio: 29.26%
Number of Hedge Fund Holders: 101
JPMorgan Chase & Co. (NYSE:JPM), a financial services and investment banking company from New York, is the largest holding in William Dollens’ Global Frontier Investments’ Q3 portfolio. The investment firm owns 245,000 shares worth $40.1 million in JPMorgan Chase & Co. (NYSE:JPM), representing 29.26% of Global Frontier Investments’ portfolio for the third quarter of 2021.
JPMorgan Chase & Co. (NYSE:JPM) reported earnings for Q3 on October 13, and the EPS for the quarter was $3.55, beating estimates by $0.55. JPMorgan Chase & Co. (NYSE:JPM)’s revenue also exceeded analysts’ estimates by $12.88 million at $29.65 billion.
Wells Fargo analyst Mike Mayo on October 25 raised the price target on JPMorgan Chase & Co. (NYSE:JPM) from $200 to $210, keeping an Overweight rating on the stock. Mayo was confident in the consistently delivered earnings of the investment banking company.
At the end of September, 101 hedge funds monitored by Insider Monkey reported owning stakes in JPMorgan Chase & Co. (NYSE:JPM), down from 108 in the previous quarter.
Here is what Vltava Fund has to say about JPMorgan Chase & Co. (NYSE:JPM) in its Q3 2021 investor letter:
“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 10 Earnings Reports Everyone is Talking About and 10 Cheap Pharmaceutical Stocks to Watch.
