Citigroup Inc. (C) Downgraded by Vetr Inc.
Citigroup Inc. (NYSE:C) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $47.03 target price on the financial services provider’s stock. Vetr‘s price objective would suggest a potential downside of 4.00% from the stock’s current price.
C has been the subject of several other research reports. Credit Agricole SA upped their price target on Citigroup from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Nomura decreased their price target on Citigroup from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 7th. Jefferies Group increased their target price on Citigroup from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and decreased their target price for the company from $52.00 to $50.00 in a research note on Friday, September 16th. Finally, TheStreet upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.76.
Shares of Citigroup (NYSE:C) traded down 1.13% on Tuesday, reaching $48.99. The company had a trading volume of 16,033,289 shares. The company’s 50-day moving average is $47.32 and its 200 day moving average is $44.96. Citigroup has a 12 month low of $34.52 and a 12 month high of $56.46. The firm has a market capitalization of $142.33 billion, a PE ratio of 10.37 and a beta of 1.86.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The firm’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.45 EPS. Equities analysts forecast that Citigroup will post $4.61 earnings per share for the current year.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares in the company, valued at $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in Citigroup during the second quarter valued at $500,315,000. Vanguard Group Inc. increased 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 valued at $7,420,348,000 after buying an additional 5,872,249 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Citigroup by 38.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,929,535 shares of the financial services provider’s stock valued at $760,033,000 after buying an additional 4,966,503 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Citigroup during the first quarter valued at about $199,573,000. Finally, TIAA CREF Investment Management LLC increased its stake in Citigroup by 39.8% in the second quarter. TIAA CREF Investment Management LLC now owns 15,857,100 shares of the financial services provider’s stock valued at $672,182,000 after buying an additional 4,510,455 shares in the last quarter. 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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