Citigroup Inc. (NYSE:C) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.
Several other equities analysts have also recently weighed in on C. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price on the stock. in a research note on Monday, June 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Citigroup in a research note on Monday, June 12th. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 target price (up previously from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. Finally, Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.17.
Citigroup (C) opened at 74.94 on Tuesday. The stock has a market capitalization of $204.18 billion, a price-to-earnings ratio of 15.00 and a beta of 1.45. The stock’s 50 day moving average is $70.52 and its 200 day moving average is $65.19. Citigroup has a one year low of $47.54 and a one year high of $76.02.
Citigroup (NYSE:C) last released its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Citigroup will post $5.22 EPS for the current year.
Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the sale, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Citigroup by 85.3% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 55,007 shares of the financial services provider’s stock valued at $4,002,000 after purchasing an additional 25,317 shares during the period. Eqis Capital Management Inc. increased its position in shares of Citigroup by 31.0% during the third quarter. Eqis Capital Management Inc. now owns 23,768 shares of the financial services provider’s stock valued at $1,729,000 after purchasing an additional 5,624 shares during the period. Intl Fcstone Inc. bought a new stake in shares of Citigroup during the second quarter valued at approximately $291,000. Gs Investments Inc. bought a new stake in shares of Citigroup during the second quarter valued at approximately $301,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Citigroup by 223.8% during the second quarter. Lord Abbett & CO. LLC now owns 2,126,630 shares of the financial services provider’s stock valued at $142,229,000 after purchasing an additional 1,469,915 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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