5 Stocks That Members of Congress Own

In this article, we discuss the 5 stocks that members of Congress own. If you want to read about some more stocks that members of Congress own, go directly to 15 Stocks That Members of Congress Own.

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

Number of Hedge Fund Holders: 110   

JPMorgan Chase & Co. (NYSE:JPM) operates as a financial services company worldwide. Mandatory filings from early December show that Rep. Chris Jacobs purchased Danaher Corporation (NYSE:DHR) stock worth somewhere around $1,000 and $15,000 in early November 2022. 

On December 6, Morgan Stanley analyst Betsy Graseck upgraded JPMorgan Chase & Co. (NYSE:JPM) to Overweight from Underweight with a price target of $153, up from $126, noting that the bank’s operating leverage is inflecting positively in 2023, driven by revenues up 10% year-over-year and expenses up 9%.   

At the end of the third quarter of 2022, 110 hedge funds in the database of Insider Monkey held stakes worth $6.4 billion in JPMorgan Chase & Co. (NYSE:JPM), compared to 104 in the preceding quarter worth $5.8 billion. 

In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:

“More cyclical sectors, including technology and consumer discretionary, were among the weakest, likely due to rising interest rates and inflation. It was encouraging to see the quarter finish on a strong note with the S&P 500 only about 5% away from its all-time highs. Shares of JPMorgan Chase (NYSE:JPM) detracted from performance due to the company’s increased expense guidance, announced in January.”