5 Most Undervalued Blue Chip Stocks To Buy According To Hedge Funds

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

Number of Hedge Funds Having Stakes in the Company as of Q3 2022: 110

PE Ratio as of January 25: 11.41

JPMorgan Chase & Co. (NYSE:JPM) is one of the most popular bank stocks among smart money. Insider Monkey’s database of 920 funds shows that 110 hedge funds had stakes in JPMorgan Chase & Co. (NYSE:JPM), compared to 104 funds in the previous quarter. The total value of these stakes was about $6.4 billion.

JPMorgan Chase & Co. (NYSE:JPM) stock recently fell after JPMorgan Chase & Co. (NYSE:JPM) posted Q4 earnings and said that its spending in 2023 will rise when compared to 2022.  In fiscal 2023, JPMorgan Chase & Co. (NYSE:JPM)’s adjusted noninterest expense is expected to come in at about ~$81 billion compared with FY2022 actual noninterest expense of $76.1 billion.

JPMorgan Chase & Co. (NYSE:JPM)’s credit card delinquency rate ticked up in December when compared to November.

As of the end of the September quarter of 2022, Ken Fisher’s hedge fund was the biggest stakeholder in JPMorgan Chase & Co. (NYSE:JPM), with an $821 million stake.