Citigroup Inc. (C) Earns “Buy” Rating from Wells Fargo & Company
Several other equities analysts have also commented on the company. Royal Bank Of Canada restated a buy rating and set a $75.00 price target on shares of Citigroup in a research note on Wednesday, September 27th. Raymond James Financial, Inc. reiterated an underperform rating on shares of Citigroup in a research note on Wednesday, September 27th. Deutsche Bank AG reiterated a hold rating and issued a $67.00 target price (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Atlantic Securities reiterated an overweight rating and issued a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, BidaskClub upgraded Citigroup from a hold rating to a buy rating in a research note on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $71.43.
Shares of Citigroup (NYSE C) opened at 74.06 on Monday. The stock has a 50 day moving average of $69.29 and a 200-day moving average of $64.57. The stock has a market capitalization of $201.78 billion, a P/E ratio of 14.83 and a beta of 1.45. Citigroup has a 52-week low of $47.54 and a 52-week high of $74.74.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Analysts predict that Citigroup will post $5.20 EPS for the current fiscal year.
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Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
A number of large investors have recently made changes to their positions in C. Waldron LP lifted its holdings in Citigroup by 21.2% in the first quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 1,276 shares during the period. Amica Mutual Insurance Co. raised its stake in shares of Citigroup by 8.9% during the 1st quarter. Amica Mutual Insurance Co. now owns 226,933 shares of the financial services provider’s stock worth $13,575,000 after buying an additional 18,567 shares during the period. Eqis Capital Management Inc. raised its stake in shares of Citigroup by 73.2% during the 1st quarter. Eqis Capital Management Inc. now owns 20,624 shares of the financial services provider’s stock worth $1,234,000 after buying an additional 8,714 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Citigroup by 3.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,652,274 shares of the financial services provider’s stock worth $517,579,000 after buying an additional 258,265 shares during the period. Finally, Pillar Pacific Capital Management LLC raised its stake in shares of Citigroup by 1.1% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 118,494 shares of the financial services provider’s stock worth $7,088,000 after buying an additional 1,310 shares during the period. 75.38% of the stock is owned by institutional investors.
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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