Citigroup (C) Upgraded to Hold at ValuEngine
ValuEngine upgraded shares of Citigroup (NYSE:C) from a sell rating to a hold rating in a report published on Tuesday morning.
A number of other brokerages have also issued reports on C. Wells Fargo & Co set a $100.00 price target on Citigroup and gave the stock a buy rating in a research note on Monday. Daiwa Capital Markets lowered Citigroup from a strong-buy rating to a buy rating and set a $78.00 price target on the stock. in a research note on Thursday, May 17th. TheStreet raised Citigroup from a c rating to a b- rating in a research note on Monday, July 30th. Goldman Sachs Group set a $78.00 price target on Citigroup and gave the stock a neutral rating in a research note on Friday, July 20th. Finally, Morgan Stanley lowered their price target on Citigroup from $93.00 to $88.00 and set an overweight rating on the stock in a research note on Monday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. Citigroup presently has an average rating of Hold and a consensus target price of $81.65.
Shares of NYSE:C opened at $71.46 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $186.05 billion, a PE ratio of 13.41, a PEG ratio of 0.98 and a beta of 1.49. Citigroup has a 1 year low of $64.38 and a 1 year high of $80.70.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Monday, August 6th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s payout ratio is 33.77%.
In other Citigroup news, insider Raja Akram sold 500 shares of Citigroup stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $69.21, for a total value of $34,605.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of Citigroup stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total value of $1,085,400.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Citigroup by 2.1% in the 2nd quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock valued at $7,199,839,000 after buying an additional 2,247,392 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Citigroup by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 33,678,989 shares of the financial services provider’s stock valued at $2,273,331,000 after buying an additional 287,814 shares during the period. ValueAct Holdings L.P. raised its holdings in shares of Citigroup by 55.4% in the 2nd quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock valued at $1,684,744,000 after buying an additional 8,975,500 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Citigroup by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,802,064 shares of the financial services provider’s stock valued at $1,124,412,000 after buying an additional 726,738 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Citigroup by 2.7% in the 2nd quarter. LSV Asset Management now owns 13,634,855 shares of the financial services provider’s stock valued at $912,444,000 after buying an additional 352,801 shares during the period. Institutional investors own 74.82% of the company’s stock.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Further Reading: Return on Investment (ROI)
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