BidaskClub downgraded shares of Citigroup Inc. (NYSE:C) from a strong-buy rating to a buy rating in a research note released on Tuesday, October 17th.
Other research analysts have also issued reports about the company. Wells Fargo & Company began coverage on Citigroup in a research report on Wednesday, August 9th. They issued an outperform rating and a $90.00 price target on the stock. Zacks Investment Research upgraded Citigroup from a sell rating to a hold rating in a research report on Friday, July 7th. HSBC Holdings plc set a $74.00 target price on Citigroup and gave the stock a hold rating in a report on Friday, August 11th. Morgan Stanley lifted their target price on Citigroup from $73.00 to $79.00 and gave the stock an overweight rating in a report on Friday, October 13th. Finally, Jefferies Group LLC reiterated a hold rating and set a $68.00 target price on shares of Citigroup in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Citigroup has a consensus rating of Buy and a consensus target price of $74.77.
Shares of Citigroup (NYSE:C) traded up 0.11% during mid-day trading on Tuesday, hitting $73.87. 11,309,869 shares of the stock traded hands. Citigroup has a one year low of $47.70 and a one year high of $76.14. The company has a market cap of $195.31 billion, a P/E ratio of 14.26 and a beta of 1.45. The stock has a 50 day moving average price of $71.88 and a 200-day moving average price of $66.15.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The business had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the prior year, the firm posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Citigroup will post $5.32 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. Citigroup’s dividend payout ratio is presently 24.66%.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’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 transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Analysts LLC increased its stake in shares of Citigroup by 5.4% in the second quarter. Capital Analysts LLC now owns 45,844 shares of the financial services provider’s stock worth $3,066,000 after purchasing an additional 2,367 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Citigroup by 5.2% in the second quarter. Principal Financial Group Inc. now owns 4,152,299 shares of the financial services provider’s stock worth $277,705,000 after purchasing an additional 205,298 shares in the last quarter. BlackRock Inc. increased its stake in shares of Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares in the last quarter. Amalgamated Bank increased its stake in shares of Citigroup by 1.0% in the first quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 1,937 shares in the last quarter. Finally, Shelton Capital Management increased its stake in shares of Citigroup by 13.9% in the first quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after purchasing an additional 7,384 shares in the last quarter. 72.16% of the stock is owned by hedge funds and other institutional investors.
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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