Citigroup’s (C) Buy Rating Reaffirmed at Nomura
Several other research firms have also weighed in on C. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $63.00 price objective (down previously from $70.00) on shares of Citigroup in a report on Wednesday, July 6th. Vetr lowered shares of Citigroup from a strong-buy rating to a buy rating and set a $48.04 price objective for the company. in a report on Monday, June 27th. Societe Generale lowered shares of Citigroup from a hold rating to a sell rating in a report on Tuesday, September 13th. Jefferies Group reaffirmed a buy rating on shares of Citigroup in a report on Monday, August 1st. Finally, Drexel Hamilton reaffirmed a buy rating and set a $65.00 price objective on shares of Citigroup in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. Citigroup has an average rating of Buy and a consensus price target of $55.39.
Shares of Citigroup (NYSE:C) traded up 1.758% during mid-day trading on Thursday, reaching $46.605. The company had a trading volume of 5,637,413 shares. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.46. The company’s 50-day moving average price is $46.84 and its 200-day moving average price is $44.62. The company has a market capitalization of $135.40 billion, a PE ratio of 9.863 and a beta of 1.90.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analyst estimates of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share. On average, analysts forecast that Citigroup will post $4.62 earnings per share for the current fiscal year.
In related news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the transaction, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC raised its stake in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Citigroup during the second quarter worth approximately $116,000. RPg Family Wealth Advisory LLC raised its stake in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,426 shares in the last quarter. First Personal Financial Services raised its stake in Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,070 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Citigroup during the second quarter worth approximately $155,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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