🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

JPMorgan CEO James Dimon sells over $32 million in stock

Published 04/16/2024, 05:00 AM
© Reuters.

In a recent transaction, James Dimon, the Chairman and CEO of JPMorgan Chase & Co (NYSE:JPM), sold a significant amount of company stock, totaling over $32 million. The sale, which took place on April 15, 2024, involved 178,222 shares of JPMorgan Chase & Co common stock at a price of $184.1783 per share.

This move by one of the leading figures in the banking industry has caught the attention of investors and market watchers. After the transaction, Dimon's direct holdings in the company amounted to 264,461 shares. It's worth noting that, apart from his direct holdings, Dimon has indirect interests through various family trusts and retirement accounts.

Specifically, Dimon's indirect holdings include 8,684.8831 shares held by a 401(k), 3,708,082 shares by family trusts, 2,932,607 shares by Grantor Retained Annuity Trusts (GRATs), and 595,316 shares by his spouse. Additionally, 152,940 shares are held by an LLC, for which a footnote in the report clarifies that Dimon disclaims beneficial ownership except to the extent of any pecuniary interest.

The sale represents a significant transaction by Dimon and is part of the regular financial disclosures required by corporate executives. Such filings provide transparency into the trading activities of senior company officials, offering insights into their perspective on the company's stock value.

Investors often monitor these transactions as they can sometimes provide signals about executives' confidence in their company's current valuation and future prospects. However, it is also common for executives to sell shares for personal financial management reasons, such as diversification, tax planning, or liquidity needs, unrelated to their outlook on the company.

As is standard practice, the sale was duly reported in a Form 4 filing with the Securities and Exchange Commission, ensuring regulatory compliance and public awareness of the transaction.

InvestingPro Insights

Amidst the news of James Dimon's significant share sale, investors are keenly observing JPMorgan Chase & Co's (NYSE:JPM) market performance and fundamentals. According to InvestingPro data, JPMorgan boasts a robust market capitalization of $526.74 billion, reflecting its substantial presence in the financial industry. The company's P/E ratio stands at a competitive 10.98, based on the last twelve months as of Q4 2023, suggesting that the stock may be trading at an attractive valuation relative to near-term earnings growth.

InvestingPro Tips reveal that JPMorgan has consistently rewarded its shareholders, raising its dividend for an impressive 54 consecutive years, which underscores the bank's commitment to delivering shareholder value. Moreover, the company's stock has experienced a strong return over the last three months, with an 18.09% price total return, indicating a positive investor sentiment.

For those considering a deeper analysis of JPMorgan Chase & Co, InvestingPro offers additional insights, including a total of 12 InvestingPro Tips for JPM, such as the company's low price volatility and its status as a prominent player in the Banks industry. To access these valuable tips and comprehensive financial analysis tools, investors can visit https://www.investing.com/pro/JPM and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.