Citigroup Inc. (C) Coverage Initiated by Analysts at Compass Point
Analysts at Compass Point began coverage on shares of Citigroup Inc. (NYSE:C) in a report issued on Tuesday. The firm set a “sell” rating on the financial services provider’s stock.
Other equities research analysts have also recently issued reports about the stock. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price target on the stock. in a research report on Monday, June 27th. Buckingham Research reiterated a “buy” rating on shares of Citigroup in a research report on Tuesday, June 21st. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a research report on Sunday, July 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. Finally, Barclays PLC reiterated a “buy” rating and issued a $60.00 price target on shares of Citigroup in a research report on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.52.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The company’s revenue was down 9.9% on a year-over-year basis.
In other news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was 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 $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in C. Vanguard Group Inc. boosted its stake in Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock worth $7,420,348,000 after buying an additional 5,872,249 shares in the last quarter. FMR LLC boosted 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 worth $3,941,143,000 after buying an additional 3,339,340 shares during the period. Franklin Resources Inc. boosted 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 worth $1,531,980,000 after buying an additional 436,566 shares during the period. BlackRock Fund Advisors boosted 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 worth $1,460,448,000 after buying an additional 476,584 shares during the period. Finally, Geode Capital Management LLC boosted 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 worth $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.
Citigroup Company Profile
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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