JPMorgan Chase (NYSE: JPM) the largest bank in the U.S by assets, recently reported a strong fourth-quarter performance, with revenue climbing 10% year-over-year to $43.74 billion and net income surging 50% to $14 billion, exceeding Wall Street expectations.
Until recently, broader market conditions had provided a tailwind for the bank’s stock.
Indeed, the Federal Reserve’s restrictive stance on monetary policy, strengthened by last week’s inflation report, has lowered expectations for imminent rate cuts, keeping interest rates elevated for longer—creating a favorable backdrop for the banking sector.
Picks for you
Riding this momentum, JPM stock hit a record high of $279.23 on February 18. However, JPMorgan shares tumbled, dropping to $267 at press time, with a nearly 4% decline on February 20.
Now, just as JPMorgan basks in record-breaking financial results, the banking giant is once again in the spotlight—this time for a wave of insider stock sales.
Receive Signals on SEC-verified Insider Stock Trades
This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Executives dump millions worth of JPM stock
A series of high-value insider stock sales at JPMorgan has caught investor attention, as multiple top executives offloaded shares at significant prices.
Finbold’s insider trading radar recently picked up these transactions, where insiders collectively sold 911,437 shares, generating approximately $245.93 million in proceeds.
Leading the transactions, Chairman and CEO Jamie Dimon sold 866,361 shares at an average price of $269.84 per share, totaling $233,770,188. The sales were executed across multiple tranches, with a portion of the shares offloaded through trusts, family accounts, and direct holdings.
Other senior executives also reduced their stakes. Troy L. Rohrbaugh, Co-CEO of Corporate & Investment Banking (CIB), sold 37,500 shares, generating $10,118,625. Chief Information Officer Lori Beer parted with 2,053 shares for $554,043, while Head of Human Resources Robin Leopold sold 1,250 shares, adding $337,600 to the total insider transactions.
Chief Operating Officer Jennifer Piepszak also offloaded 4,273 shares, totaling $1,153,069.
The scale of these insider sales, particularly when JPMorgan stock is trading near record highs, has fueled speculation that executives may be locking in gains at peak valuations.
Featured image via Shutterstock
