Citigroup Inc. (C) Rating Reiterated by Deutsche Bank AG
Citigroup Inc. (NYSE:C)‘s stock had its “hold” rating reissued by investment analysts at Deutsche Bank AG in a research note issued to investors on Tuesday. They currently have a $67.00 target price on the financial services provider’s stock, up from their previous target price of $61.00. Deutsche Bank AG’s price objective indicates a potential downside of 5.55% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research report on Tuesday. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Credit Suisse Group restated a “buy” rating and set a $73.00 target price on shares of Citigroup in a research report on Wednesday, September 13th. Societe Generale upgraded Citigroup from a “sell” rating to a “hold” rating and increased their target price for the stock from $63.00 to $70.00 in a research report on Monday, September 11th. Finally, ValuEngine upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $71.16.
Shares of Citigroup (C) opened at 72.28 on Tuesday. The firm has a market capitalization of $196.93 billion, a PE ratio of 14.47 and a beta of 1.47. The company’s 50-day moving average price is $68.04 and its 200 day moving average price is $63.70. Citigroup has a 12-month low of $45.16 and a 12-month high of $72.97.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company earned $1.24 earnings per share. Citigroup’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Citigroup will post $5.21 earnings per share for the current year.
Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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In other news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Endurance Wealth Management Inc. grew its stake in shares of Citigroup by 0.3% during the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock valued at $588,000 after buying an additional 25 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Citigroup by 0.8% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after buying an additional 40 shares during the last quarter. Leisure Capital Management grew its stake in shares of Citigroup by 1.6% during the second quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock valued at $252,000 after buying an additional 59 shares during the last quarter. Regal Investment Advisors LLC grew its stake in shares of Citigroup by 2.0% during the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock valued at $227,000 after buying an additional 74 shares during the last quarter. Finally, Halbert Hargrove Russell LLC grew its stake in shares of Citigroup by 1.6% during the second quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock valued at $317,000 after buying an additional 74 shares during the last quarter. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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