Raymond James Financial, Inc. reaffirmed their underperform rating on shares of Citigroup Inc. (NYSE:C) in a report issued on Wednesday morning.

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.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/01/citigroup-inc-c-given-underperform-rating-at-raymond-james-financial-inc.html.

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.

Analyst Recommendations for Citigroup (NYSE:C)

Receive News & Stock Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related stocks with our FREE daily email newsletter.