5 Best Digital Money Stocks to Invest In

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

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE: JPM) is a financial services company operating worldwide. The company, despite not being a traditional digital money player, ranks 3rd on our list of the best digital money stocks to invest in because of its recent moves into the digital payments and fintech sector with its acquisition of OpenInvest, for instance, which is a fintech company, and 55ip, another fintech company.

This July, JPMorgan Chase & Co. (NYSE: JPM) was given a Market Perform rating and a $167 price target at Keefe Bruyette. The stock was also dubbed one of the top stock picks in the financials sector this June and raised its dividend after the Federal Reserve’s stress test to about $1 per share, making it a good choice for income investors.

The company is also acquiring a 40% stake in C6 Bank in Brazil, as of June 28th. In the first quarter of 2021, JPMorgan Chase & Co. (NYSE: JPM) had an EPS of $4.59, beating estimates by $1.53. The company’s revenue was $32.27 billion, up 14.21% year over year and beating estimates by $1.96 billion. The stock has a forward PE ratio of 11.64 and has gained 12.9% in the past 6 months and 21.87% year to date.

As of the end of the first quarter of 2021, 111 hedge funds out of the 866 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE: JPM), worth roughly $5.25 billion. This is compared to 112 hedge funds in the previous quarter, with a total stake value of about $6.96 billion.