5 Safe Blue Chip Stocks to Buy in June

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

Number of Hedge Fund Holders: 110

Share Price (as of June 9): $125.31

JPMorgan Chase & Co. (NYSE:JPM) is up next on our list of safe blue chip stocks to buy in June. It is the largest bank in the United States, and the world’s largest bank by market capitalization with a $368 billion value. It offers a 3.19% yield to shareholders as of June 9, and has increased its dividend payments for 9 years in a row.

On May 24, BMO Capital analyst James Fotheringham reiterated a ‘Market Perform’ rating on JPMorgan Chase & Co. (NYSE:JPM) shares and bumped the price target to $156 from $150. The analyst sees the firm as a long-term market share winner among global banks, but notes some headwinds offsetting the near-term benefits of rising interest rates and growing credit demand.

Hedge fund sentiment around JPMorgan Chase & Co. (NYSE:JPM) was positive at the end of the first quarter, where a total of 110 hedge funds owned positions in the banking firm, in contrast to 107 hedge funds in the previous quarter. Billionaire Ken Fisher’s Fisher Asset Management was the biggest shareholder of JPMorgan Chase & Co. (NYSE:JPM) in the first quarter of 2022, with a position consisting of 7.76 million shares valued at $1.05 billion.

Investment firm ClearBridge Investments talked about JPMorgan Chase & Co. (NYSE:JPM) in its Q4 2021 investor letter. Here’s what the fund had to say:

“Our energy and financials holdings kept pace in the 2021 rally.  In financials, JPMorgan benefited from strong economic growth, a rise in Treasury yields, and a benign credit environment.”