JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon recently sold $150 million worth of the bank‘s shares, his first sale since taking charge of the bank in 2005. Back in October, the bank had stated in a filing that Dimon and his family planned to sell 1 million of their 8.6 million shares.
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The latest filing indicated that Dimon has sold 0.821 million shares at a price of around $182.73 per share. The company had made it clear in October that Dimon’s stock sale was not related to a leadership change. Currently, JP Morgan’s market cap is $527.31 billion.
What Is the Future of JPM Stock?
Analysts remain cautiously optimistic about JPM stock with a Moderate Buy consensus rating based on 17 Buys and six Holds. Over the past year, JPM stock has rallied by more than 30%, and the average JPM price target of $192.81 implies an upside potential of 5.32% at current levels.
Currently, 56.8% of institutional investors own JPM stock, while 40.2% is owned by Public Companies and individual investors. 2.98% of the bank stock is owned by insiders.
