Here’s Why JPMorgan Chase & Co. (JPM) Performed Well in Q4

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The S&P 500 Index rose 11.7% in Q4 and 26.3% for the year. Investors became more comfortable that the U.S. Federal Reserve was done with raising interest rates, leading to a decrease of over 70 basis points in 10-year U.S. Treasury yields. The Federal Reserve’s core Personal Consumption Expenditures (PCE) Price Index has been moderating on a year-over-year basis, easing concerns about interest rates. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Growth & Income Fund featured stocks like JPMorgan Chase & Co. (NYSE:JPM) in its Q4 2023 investor letter. Headquartered in New York, New York, JPMorgan Chase & Co. (NYSE:JPM) is a financial services company. On March 8, 2024, JPMorgan Chase & Co. (NYSE:JPM) stock closed at $188.22 per share. One-month return of JPMorgan Chase & Co. (NYSE:JPM) was 7.07%, and its shares gained 43.41% of their value over the last 52 weeks. JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $542.143 billion.

Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its fourth quarter 2023 investor letter:

“PNC Financial and JPMorgan Chase & Co. (NYSE:JPM) performed well due to more benign inflation data, which the market likely interpreted as a sign that a recession is now less likely to occur. Recall that historically speaking, banks are hyper-cyclical stocks and typically will trade lower if investors foresee a recession, because recessions tend to trigger loan losses.”

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JPMorgan Chase & Co. (NYSE:JPM) is in 18^th position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, JPMorgan Chase & Co. (NYSE:JPM) was held by 103 hedge fund portfolios, down from 109 in the previous quarter, according to our database.

We discussed JPMorgan Chase & Co. (NYSE:JPM) in another article and shared the list of best spring stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.