1. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders as of Q4: 123
Bourgeon Capital’s Equity Stake: $30.09 Million
JPMorgan Chase & Co. (NYSE:JPM) is a leading American multinational financial services firm headquartered in New York City and incorporated in Delaware. As the largest bank in the United States, it has a history spanning 225 years and operates in over 100 markets worldwide. The firm provides a wide range of financial services, including investment banking, commercial banking, financial transaction processing, and asset management, serving millions of individuals, businesses, and institutions globally.
In the fourth quarter of 2024, JPMorgan Chase & Co. (NYSE:JPM) reported impressive financial results, with revenue reaching $42.77 billion—an increase of 10% from the previous year. Net income surged by 50% year-over-year to $14.01 billion. The company operates through four primary business segments, with Consumer & Community Banking generating $4.5 billion in net income despite a 6% decline from the prior year. Meanwhile, Commercial & Investment Banking experienced significant growth, with net income rising 59% to $6.6 billion. Given its strong financial performance and leadership in the banking industry, JPMorgan Chase & Co. (NYSE:JPM) remains an attractive stock for investors seeking stability and long-term growth.
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.”
JPMorgan Chase & Co. (NYSE:JPM) was the largest holding in John Zaro’s stock portfolio. Bourgeon Capital owned over 125,520 shares of the company as of Q4 2024 worth over $30.09 million, which constitutes 5.61% of the hedge fund’s 13F holding.
Overall, JPMorgan Chase & Co. (NYSE:JPM) ranks first on our list of the top 12 stocks to buy according to Bourgeon Capital. While we acknowledge the potential for JPM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than JPM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
