Bank of America Corp (NYSE:BAC) is another popular finance stock in the equity portfolio of investment managers. According to our data, 101 hedge funds have made investments in the bank with aggregate investments of $5.62 billion. While fund ownership increased from 94 at the end of 2014, aggregate investments were lower, down from $6.78 billion. According to a news report by The Wall Street Journal, Bank of America Corp (NYSE:BAC) is ready to upgrade its private-placements arm with a new team. This new wing would be called Strategic & Private Capital Solutions Group and it would be responsible for raising money for private companies. Sachin Aggarwal and Warren Fixmer will head the group, which will function as a sub-division of the Americas equity capital markets unit of the bank. This division will focus on pre-IPO deals, private placements, and special-purpose acquisition companies. Ken Fisher‘s Fisher Asset Management, and Pzena Investment Management have large stock positions in Bank of America.
With 95 investors holding stock positions valued at $7.64 billion, JPMorgan Chase & Co. (NYSE:JPM) is the fourth-most popular finance company among the hedge funds covered by Insider Monkey. There was a lot of interest in the financial holding company as it witnessed an increase in the number of investors as well as their net investment. During the previous reporting period, 92 investment managers held positions in JPMorgan Chase & Co. (NYSE:JPM) with an aggregate of $7.06 billion invested. In terms of market capitalization, JPMorgan Chase & Co. (NYSE:JPM) is the tenth-largest firm in the S&P 500. Earlier last week, the financial institution launched JPMorgan Chase Institute, with the CEO of JPMorgan, Jamie Dimon, saying that the institute would “educate the world.” The institute would offer real-time data analytics for policymakers, public, and other businesses. Some of the major stockholders of JPMorgan include Paul Ruddock and Steve Heinz‘s Lansdowne Partners as well as Fisher Asset Management.
Citizens Financial Group Inc (NYSE:CFG) comes in at number five on the list, with 76 hedge funds holding investments in the company. The retail bank holding company witnessed a tremendous change in its popularity as compared to the previous reporting period. The number of hedge funds investing in the company rose from just 30, while their net aggregate investments rose to $2.33 billion from $1.17 billion. Shares of Citizens Financial Group Inc (NYSE:CFG) have improved 6.87% year-to-date and currently trade at $26.92. David Einhorn‘s Greenlight Capital along with Citadel Investment Group are among the primary shareholders of the financial institution.
Disclosure: None
