8 Best Inexpensive Stocks To Invest In Now

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

Forward Price-to-Earnings Ratio: 12.48

Market Cap as of September 26: $598.27 billion

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM) is a finance company, the largest bank in the US overall, and the largest bank globally by market capitalization as of 2023. It is a leading global financial services firm that offers a wide range of products and services, including commercial banking, retail banking, investment banking, asset management, and treasury and securities services, operating in over 100 countries.

The company is making significant strides in automation. It has launched a GenAI assistant to streamline tasks for over 60,000 employees. For customers, it has introduced in-store pay-by-face biometric payment solutions and a new data-managed service for institutional investors to streamline their operations.

Q2 2024 revenue was up 21.53% year-over-year, with an earnings per share value of $6.12. Its commercial and investment bank segment revenue rose 9% year-over-year and delivered an 11% gain in net income. Asset and wealth management contributed around $5.3 billion to the revenue growth.

As of March 31, it had $4.1 trillion in assets and $3.6 trillion in assets under management. Its future is looking at sustained success due to its cost advantages and strategic investments in organic growth. While credit losses have risen slightly, the company’s diversified business model offers multiple avenues for growth in consumer, commercial, investment, and asset management.

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.”