Dimon Increases Stake In JPMorgan Chase (JPM) to 12%

JPMorgan Chase CEO Jamie Dimon  has increased his shareholding in the bank to 12 percent, according to documents the company filed with the U.S. Securities and Exchange Commission.

The SEC filing shows that Dimon boosted his stake in the bank by 360,000 shares by purchasing 110,000 common shares at about $34.43 per share on Thursday and another 250,000 shares at $34.02 a share on Friday.

The $34.14 average price purchases boost Dimon’s direct personal stake in JPMorgan (JPM), the biggest U.S. bank by assets, by 12 percent, to 3.2 million shares from 2.9 million shares, making him the second individual with the largest stake in the New York-based bank.

Dimon and his wife now directly or indirectly hold more than 5.6 million shares of the bank, according to the filing.

The holdings are worth about $190 million, based on J.P. Morgan’s Friday PPS of $33.90.

JPM shares reached a 52-wk intraday high of $46.49 on March 27. The stock has lost 20% of its value since the company announced May 10 that it lost billions on a bad credit-derivatives trade.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

1 Comment on Dimon Increases Stake In JPMorgan Chase (JPM) to 12%

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.