Citigroup Inc. (C) Given “Underperform” Rating at Raymond James Financial, Inc.
Several other research analysts have also recently weighed in on the company. Deutsche Bank AG reaffirmed a hold rating and set a $67.00 target price (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Atlantic Securities reaffirmed an overweight rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. BidaskClub raised Citigroup from a hold rating to a buy rating in a research note on Thursday, September 21st. Credit Suisse Group reaffirmed a buy rating and set a $73.00 target price on shares of Citigroup in a research note on Wednesday, September 13th. Finally, Societe Generale raised Citigroup from a sell rating to a hold rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $71.16.
Citigroup (C) opened at 72.74 on Wednesday. The firm has a market cap of $198.18 billion, a P/E ratio of 14.56 and a beta of 1.47. The stock’s 50 day moving average price is $68.04 and its 200 day moving average price is $63.70. Citigroup has a 1-year low of $45.16 and a 1-year high of $72.90.
Citigroup (NYSE:C) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $17.38 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Citigroup will post $5.20 EPS for the current year.
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Citigroup announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the 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 owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the 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 approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Catamount Wealth Management acquired a new position in shares of Citigroup during the 2nd quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,030 shares during the last quarter. Patten Group Inc. increased its holdings in shares of Citigroup by 6.6% during the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. increased its holdings in shares of Citigroup by 60.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 599 shares during the last quarter. Finally, Balentine LLC increased its holdings in shares of Citigroup by 20.2% during the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 272 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Company Profile
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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