Jamie Dimon, the Chairman, CEO, and Director of JPMorgan Chase (JPM), dumped company stock worth $31.49 million yesterday. Dimon is probably leveraging the recent stock price surge to maximize returns from his planned stock sale. JPM reported solid results for the first quarter of Fiscal 2025 on April 11, gaining over 4% since the earnings release.
This is Dimon’s second big Informative Sell transaction this year. His first sale, on February 20, was a much larger chunk, when Dimon sold 866,361 shares of JPMorgan, amounting to $233.8 million. His previous stock sale also followed the release of the bank’s Q4FY24 results.
Dimon’s Stock Sale Hints at Retirement Planning
Dimon has been with JPMorgan Chase since 2004 and took over as CEO in 2006. Over the years, Dimon has refrained from any major stock sales, with his first big shocking sale made in April 2024, selling $33 million worth of JPM stock. Dimon, aged 69 years, is one of the most powerful personalities on Wall Street. As Dimon prepares for retirement, JPMorgan remains razor-focused on finding an apt successor.
In mid-February, Dimon filed a Rule 105b-1 trading plan with the U.S. SEC (Securities and Exchange Commission), outlining his intention to sell up to one million of the bank’s common shares by August 1, 2025. At the time of filing, the CEO held 7.5 million shares of the giant financial institution, both individually and indirectly.
A Closer Look at the Insider’s Transactions
As per Form 4 filed with the SEC, Dimon sold 133,639 shares of JPMorgan Chase’s common stock on April 14, at a weighted average price of $235.6774 apiece. It is worth noting that even after the latest share sale, Dimon still owns 1,321,357 JPM common shares directly, while several shares are held indirectly by trusts and other investment vehicles.
JPM stock currently has a Very Negative Insider Confidence Signal on TipRanks, based on Informative Sell transactions worth $296.0 million undertaken in the last three months.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is JPM a Good Buy Right Now?
Analysts remain divided on JPMorgan’s stock trajectory. On TipRanks, JPM stock has a Moderate Buy consensus rating based on 10 Buys and six Hold ratings. Also, the average JPMorgan Chase price target of $265.21 implies nearly 13% upside potential from current levels.
