Citigroup Inc. (C) Upgraded by Morgan Stanley to Overweight
Citigroup Inc. (NYSE:C) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday.
Several other analysts also recently weighed in on C. Vetr downgraded Citigroup from a “hold” rating to a “sell” rating and set a $48.96 price target on the stock. in a research note on Wednesday, November 9th. Argus restated a “hold” rating on shares of Citigroup in a research note on Tuesday, October 18th. Compass Point assumed coverage on Citigroup in a research note on Tuesday, October 11th. They issued a “sell” rating and a $39.00 price target on the stock. Jefferies Group upped their price target on Citigroup from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Finally, Nomura restated a “buy” rating and issued a $55.00 price target on shares of Citigroup in a research note on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $54.40.
Shares of Citigroup (NYSE:C) opened at 52.83 on Monday. Citigroup has a one year low of $34.52 and a one year high of $55.37. The company has a market capitalization of $150.55 billion, a price-to-earnings ratio of 11.49 and a beta of 1.74. The company’s 50-day moving average price is $48.92 and its 200-day moving average price is $45.95.
Citigroup (NYSE:C) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The firm earned $17.80 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that Citigroup will post $4.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be given a $0.16 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $0.64 annualized dividend and a yield of 1.21%. Citigroup’s dividend payout ratio is currently 13.91%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its position in shares of Citigroup by 127.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 81,800 shares of the financial services provider’s stock valued at $3,415,000 after buying an additional 45,820 shares during the period. Steinberg Global Asset Management raised its position in shares of Citigroup by 11.4% in the first quarter. Steinberg Global Asset Management now owns 17,445 shares of the financial services provider’s stock valued at $729,000 after buying an additional 1,789 shares during the period. Jones Financial Companies Lllp raised its position in shares of Citigroup by 31.4% in the first quarter. Jones Financial Companies Lllp now owns 113,764 shares of the financial services provider’s stock valued at $4,750,000 after buying an additional 27,206 shares during the period. Samlyn Capital LLC acquired a new position in shares of Citigroup during the first quarter valued at about $39,195,000. Finally, Eachwin Capital LP acquired a new position in shares of Citigroup during the first quarter valued at about $384,000. Institutional investors own 72.41% 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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