Citigroup (NYSE:C) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of Citigroup (NYSE:C) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other analysts have also recently issued reports on C. Piper Sandler reiterated an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Royal Bank of Canada decreased their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group decreased their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America reduced their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.97.

Citigroup Trading Down 0.4%

NYSE:C opened at $73.09 on Friday. The company has a market capitalization of $136.52 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The stock has a fifty day simple moving average of $68.71 and a 200-day simple moving average of $72.32. Citigroup has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, equities research analysts expect that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. FMR LLC lifted its holdings in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. raised its holdings in Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its holdings in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.