Daiwa Capital Markets Downgrades Citigroup (C) to Buy

Daiwa Capital Markets cut shares of Citigroup (NYSE:C) from a strong-buy rating to a buy rating in a research report released on Thursday.

A number of other equities analysts have also weighed in on C. ValuEngine lowered Citigroup from a buy rating to a hold rating in a research note on Wednesday, May 2nd. BMO Capital Markets restated a hold rating and issued a $76.00 target price on shares of Citigroup in a research note on Friday, April 13th. Morgan Stanley decreased their target price on Citigroup from $93.00 to $88.00 and set an overweight rating on the stock in a research note on Monday, April 30th. Keefe, Bruyette & Woods restated a hold rating and issued a $74.00 target price on shares of Citigroup in a research note on Thursday, April 5th. Finally, Vining Sparks restated a buy rating and issued a $82.00 target price on shares of Citigroup in a research note on Monday, April 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $80.92.

Shares of C opened at $69.96 on Thursday. The stock has a market cap of $183.91 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.03 and a beta of 1.55. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup has a 52-week low of $59.87 and a 52-week high of $80.70.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.07. The business had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $18.89 billion. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. research analysts expect that Citigroup will post 6.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Monday, May 7th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.28 annualized dividend and a dividend yield of 1.83%. Citigroup’s dividend payout ratio (DPR) is presently 24.02%.

In other news, CFO John C. Gerspach sold 12,966 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of C. ValueAct Holdings L.P. grew its position in Citigroup by 1,372.7% during the 1st quarter. ValueAct Holdings L.P. now owns 16,200,000 shares of the financial services provider’s stock worth $1,093,500,000 after acquiring an additional 15,100,000 shares during the last quarter. Janus Henderson Group PLC grew its position in Citigroup by 227.4% during the 3rd quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock worth $700,395,000 after acquiring an additional 6,688,305 shares during the last quarter. Lansdowne Partners UK LLP grew its position in Citigroup by 43.4% during the 4th quarter. Lansdowne Partners UK LLP now owns 9,901,315 shares of the financial services provider’s stock worth $736,758,000 after acquiring an additional 2,997,928 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Citigroup by 41.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 8,204,957 shares of the financial services provider’s stock worth $610,531,000 after acquiring an additional 2,416,598 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Citigroup by 50.0% during the 4th quarter. Mackenzie Financial Corp now owns 5,730,023 shares of the financial services provider’s stock worth $426,371,000 after acquiring an additional 1,909,362 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Analyst Recommendations for Citigroup (NYSE:C)

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