Citigroup Inc. (NYSE:C) Receives $56.04 Average Target Price from Brokerages
Citigroup Inc. (NYSE:C) has earned a consensus rating of “Buy” from the twenty-eight brokerages that are currently covering the company. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $56.04.
Several research analysts have recently issued reports on the stock. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $46.20 price objective for the company in a report on Monday, September 5th. Nomura reduced their target price on shares of Citigroup from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, September 7th. Credit Agricole SA raised their target price on shares of Citigroup from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. cut shares of Citigroup from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $52.00 to $50.00 in a report on Friday, September 16th.
In other news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the sale, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of C. Vanguard Group Inc. raised its stake in shares of Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock valued at $7,420,348,000 after buying an additional 5,872,249 shares during the period. FMR LLC raised its stake in shares of Citigroup by 3.7% in the second quarter. FMR LLC now owns 92,973,398 shares of the financial services provider’s stock valued at $3,941,143,000 after buying an additional 3,339,340 shares during the period. Franklin Resources Inc. raised its stake in shares of Citigroup by 1.2% in the second quarter. Franklin Resources Inc. now owns 36,139,625 shares of the financial services provider’s stock valued at $1,531,980,000 after buying an additional 436,566 shares during the period. BlackRock Fund Advisors raised its stake in shares of Citigroup by 1.4% in the second quarter. BlackRock Fund Advisors now owns 34,452,658 shares of the financial services provider’s stock valued at $1,460,448,000 after buying an additional 476,584 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Citigroup by 0.7% in the first quarter. Geode Capital Management LLC now owns 24,657,570 shares of the financial services provider’s stock valued at $1,027,425,000 after buying an additional 176,548 shares during the period. Institutional investors and hedge funds own 71.41% of the company’s stock.
Shares of Citigroup (NYSE:C) opened at 49.07 on Tuesday. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.46. The stock has a market cap of $142.57 billion, a price-to-earnings ratio of 10.39 and a beta of 1.86. The stock’s 50 day moving average price is $47.09 and its 200 day moving average price is $44.80.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. Equities research analysts anticipate that Citigroup will post $4.61 EPS for the current fiscal year.
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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