Mary E. Erdoes, CEO of Asset & Wealth Management at JPMorgan Chase & Co. (NYSE:JPM), recently sold a portion of her holdings in the company. According to a recent SEC filing, Erdoes sold 5,277 shares of common stock on January 16, 2025, at an average price of $253.97 per share. This transaction amounted to a total value of approximately $1.34 million. Following the sale, Erdoes retains ownership of 599,631 shares in JPMorgan Chase, representing a stake in the $712.8 billion financial giant that maintains a healthy P/E ratio of 12.8. For deeper insights into insider transactions and comprehensive financial analysis, including 10+ additional ProTips, check out the full research report on InvestingPro.
In other recent news, JPMorgan Chase & Co. has seen its stock target upgraded by RBC (TSX:RY) Capital Markets following robust Q4 earnings, which exceeded expectations due to increased noninterest income and net interest income, and a lower provision for credit losses. RBC Capital has revised the earnings per share estimates for the years 2025 and 2026 to $17.91 and $19.25, respectively, based on anticipated stronger net interest income.
In addition to RBC's outlook, other financial firms have also adjusted their ratings and targets for JPMorgan. Keefe, Bruyette & Woods maintained its Market Perform rating coinciding with the appointment of Jennifer Piepszak as the new Chief Operating Officer. Truist Securities increased the bank's price target from $260.00 to $268.00 while maintaining a Hold rating, reflecting an anticipated rise in earnings per share for the coming years.
UBS also increased their price target for JPMorgan shares to $287 from the previous target of $276, reaffirming its Buy rating. They highlighted JPMorgan's consistent ability to exceed expectations, suggesting that JPMorgan could achieve a return on tangible common equity of 19% in 2025 and 18% in 2026.
These are recent developments, reflecting JPMorgan's performance and outlook amidst the evolving economic landscape. The adjustments in ratings and targets were influenced by JPMorgan's recent earnings report, which surpassed analyst expectations in terms of revenue, largely driven by fee income. The bank's net interest income also exceeded forecasts for the quarter, and the guidance for net interest income was about $1 billion higher than anticipated.
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