Key Takeaways
- Jamie Dimon bought 133,639 JPMorgan shares value $31.5 million in April.
- Earlier this yr, Dimon bought $233 million of firm inventory.
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A brand new SEC filing reveals that JPMorgan Chase CEO Jamie Dimon offloaded 133,639 shares, valued at roughly $31.5 million.
The transaction, executed at a mean worth of $235 per share on April 14, leaves Dimon with direct possession of 1.32 million shares. He maintains further oblique holdings by household trusts, 401(ok) accounts, grantor retained annuity trusts (GRATs), and a restricted legal responsibility firm.
At JPMorgan Chase, Dimon was traditionally seen as a long-term holder, making main purchases in 2007, 2009, 2012, and 2016 — usually during times of market uncertainty. Nevertheless, since final yr, he has shifted to promoting.
In 2024, Dimon bought about 1 million shares in complete, executed in two transactions. In February 2024, he bought roughly 821,778 shares value round $150 million. Two months later, in April, he bought the remaining 178,222 shares, value about $33 million.
In February, Dimon bought one other $233 million value of firm inventory, equal to greater than 11% of his holdings.
Dimon’s inventory sale comes as JPMorgan Chase is off to a powerful begin this yr. Final week, the Wall Avenue big reported better-than-expected income within the first quarter.
Nevertheless, regardless of the robust numbers, the financial institution continues to be very cautious in regards to the financial outlook amid commerce tensions.
The return of Donald Trump to the presidency initially boosted enterprise confidence, however that optimism was shaken when his administration launched steep new tariffs on many nations.
Nevertheless, these tariffs have been briefly paused. These back-and-forth strikes have added to market instability.
Dimon famous final week that middle-market shoppers are scaling again investments and offers resulting from market uncertainty.
JPMorgan, the biggest US financial institution by property, has maintained a powerful lead over its friends all through Dimon’s almost 20-year tenure.
Dimon has signaled that succession planning is in movement. Final Could, he indicated that his tenure was “not 5 years anymore,” prompting hypothesis he may step down by 2025 or 2026.
Nevertheless, Dimon plans to remain on as CEO for the following few years, with a attainable transition to chairman later.
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