JPMorgan Chase & Co. (JPM) rating downgrades by Citigroup

In a filing, JPMorgan Chase & Co. revealed its General Counsel Friedman Stacey unloaded Company’s shares for reported $0.68 million on Aug 07. In the deal valued at $157.16 per share,4,310 shares were sold. As a result of this transaction, Friedman Stacey now holds 57,735 shares worth roughly $ 8.38 million.

Then, Erdoes Mary E. sold 8,118 shares, generating $1,154,002 in total proceeds. Upon selling the shares at $142.15, the CEO Asset & Wealth Management now owns 560,373 shares.

Before that, Petno Douglas B sold 4,930 shares. JPMorgan Chase & Co. shares valued at $700,864 were divested by the CEO Commercial Banking at a price of $142.16 per share. As a result of the transaction, Petno Douglas B now holds 277,161 shares, worth roughly $40.24 million.

Citigroup downgraded its JPMorgan Chase & Co. [JPM] rating to a Neutral from a a Buy in a research note published on Tuesday. PT values the company’s stock at a premium of 9.25 to its Tuesday closing price.

Price Performance Review of JPM

On Tuesday, JPMorgan Chase & Co. [NYSE:JPM] saw its stock fall -1.10% to $145.20. On the same session, the stock had its day’s lowest price of $145.01, but rose to a high of $148.2099. Over the last five days, the stock has lost -1.60%. JPMorgan Chase & Co. shares have risen nearly 8.28% since the year began. Nevertheless, the stocks have risen 26.80% over the past one year. While a 52-week high of $159.38 was reached on 07/31/23, a 52-week low of $101.28 was recorded on 03/24/23. SMA at 50 days reached $150.26, while 200 days put it at $139.79. A total of 7.85 million shares were traded, compared to the trading of 7.9 million shares in the previous session.

Levels Of Support And Resistance For JPM Stock

The 24-hour chart illustrates a support level at 144.07, which if violated will result in even more drops to 142.94. On the upside, there is a resistance level at 147.27. A further resistance level may holdings at 149.34. The Relative Strength Index (RSI) on the 14-day chart is 35.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.96%. Stochastics %K at 12.63% indicates the stock is a buying.

How much short interest is there in JPMorgan Chase & Co.?

A steep rise in short interest was recorded in JPMorgan Chase & Co. stocks on Aug 14, 2023, growing by 0.39 million shares to a total of 19.16 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 18.77 million shares. There was a rise of 2.04%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.66% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.09.

JPMorgan Chase & Co. [JPM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 261,010,878 shares, or roughly 8.93% of the outstanding JPM shares. In other words, the investor’s shares have fallen by -1,718,174 from its previous 13-F filing of 262729052.0. Additionally, BlackRock Fund Advisors decreased -0.29% of its stake after which the total value it holdings stand at $20,174,170,054, while SSgA Funds Management, Inc. added 1.93% of its stake to hold $19.94 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 1,057,041 shares of JPMorgan Chase & Co., while Capital Research & Management Co bought 45,927 shares. At present, Capital Research & Management Co is holding 38,362,149 shares valued at $6.06 billion. Wellington Management Co. LLP owned 37,818,621 shares of the company at the time of its most recent 13F filing, worth $5.97 billion.

However, 26 analysts have rated JPM stock as an Overweight in their predictions for 2023.