Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index continued its recent all-time high, beginning the year’s first quarter at a robust 10.6%. This quarter’s results followed a common pattern to much of 2023: large outperforming small and growth outperforming value. Energy was the best-performing sector while real estate investment trusts (REITs) were the only sector with negative returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Carillon Eagle Growth & Income Fund highlighted stocks like JPMorgan Chase & Co. (NYSE:JPM), in the first quarter 2024 investor letter. JPMorgan Chase & Co. (NYSE:JPM) is a global financial services company. The one-month return of JPMorgan Chase & Co. (NYSE:JPM) was -3.55%, and its shares gained 36.85% of their value over the last 52 weeks. On June 11, 2024, JPMorgan Chase & Co. (NYSE:JPM) stock closed at $194.36 per share with a market capitalization of $558.138 billion.
Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its first quarter 2024 investor letter:
“JPMorgan Chase & Co. (NYSE:JPM) contributed positively to performance following solid financial results and positive guidance for the remainder of 2024. Moreover, growing chatter around rising capital markets activity likely contributed to the stock’s strong performance relative to other banks. Recall that JPMorgan has a robust capital markets franchise.”
A group of business people discussing plans around a boardroom table adorned with a financial services company logo.
JPMorgan Chase & Co. (NYSE:JPM) is in 17th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 112 hedge fund portfolios held JPMorgan Chase & Co. (NYSE:JPM) at the end of the first quarter which was 103 in the previous quarter. In the first quarter, JPMorgan Chase & Co. (NYSE:JPM) achieved a net income of $13.4 billion, earnings per share (EPS) of $4.44, and ROTCE of 21%. While we acknowledge the potential of JPMorgan Chase & Co. (NYSE:JPM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed JPMorgan Chase & Co. (NYSE:JPM) and shared the list of best Dow stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2024 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.