JPMorgan's Dimon buys common shares, sells preferreds

NEW YORK Sat Jul 21, 2012 12:44am EDT

NEW YORK (Reuters) - Jamie Dimon, chairman and chief executive, of JPMorgan Chase & Co this week bought about $17 million of common shares at $34 to $34.46 per share and sold preferred shares, according to a filing Friday with the U.S. Securities and Exchange Commission.

Dimon spent about $17.1 million buying common shares for himself and indirectly for his wife and limited liability company.

He directly purchased 110,000 common shares at about $34.43 per share on Thursday and another 250,000 shares at $34.02 a share on Friday for a total of about $12.3 million bringing the amount of shares he directly owns to 3,226,153, according to the filing.

He also bought another 65,000 shares indirectly for the benefit of his wife for about $2.23 million, according to the filing, bringing the total shares she owns 971,459. Additionally, he bought 75,000 shares at $34.45 for a limited liability company.

The purchases followed the sale of 12,142 preferred shares at $1,110 a piece, for a total of $13.48 million, which he held indirectly for the benefit of either charitable trusts, limited liability companies or other trusts, according to the filing.

Spokesman Joseph Evangelisti declined to comment.

Last week, JPMorgan said it lost $5.8 billion in 2012 from disastrous credit bets, but still managed to post a nearly $5 billion in overall second-quarter profit.

Shares of JPMorgan Chase on Friday closed at $33.90 on the New York Stock Exchange, down 1.6 percent.

(Reporting by Ilaina Jonas; Editing by Lisa Shumaker)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.