JPMorgan (NYSE: JPM) CEO Jamie Dimon has made a notable insider trade, selling $31.5 million worth of the bank’s shares just days after cautioning about a possible slowdown in economic growth.
The transaction involved 133,639 shares sold at an average price of $231.34 per share, according to a filing with the Securities and Exchange Commission (SEC).
The SEC filing indicates that Dimon executed the sale on Monday, April 14, when JPM stock closed at $234, down 0.6%. However, on the weekly timeline, the stock has rallied 5%.
This type of transaction isn’t entirely unexpected from the executive. Back in February, regulatory filings showed that under a Rule 10b5-1 trading plan, Dimon intends to sell one million JPM shares by August 1 of this year.
This marks a shift, considering he rarely liquidates his holdings in the nation’s largest lender, having led the company since 2005. Notably, in April 2024, Dimon made another rare sale when he also offloaded shares worth $33 million.
Before the latest sale, Dimon held roughly 7.5 million shares in the bank.
JPM earnings beat estimates
Meanwhile, JPM stock has seen sustained upside in recent sessions after the banking giant reported better-than-expected earnings for the first quarter, fueled by a surge in equity trading revenue.
The lender posted earnings of $5.07 per share on revenue of $46.01 billion, beating analyst expectations of $4.61 per share and $44.11 billion in revenue. Net income rose 9% year-over-year to $14.64 billion, highlighting the strength of the firm’s trading division.
At the same time, Dimon has joined other Wall Street executives in sounding the alarm over the economy’s trajectory amid growing trade tensions between the United States and China.
On April 11, the CEO stated he expects earnings estimates for S&P 500 firms to drop due to uncertainty stemming from President Donald Trump-era tariffs. Consequently, he views a recession as a “likely outcome” from the current economic environment.
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