Citigroup Inc. (NYSE:C) had its target price upped by stock analysts at BMO Capital Markets from $65.00 to $67.00 in a research note issued to investors on Friday. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 7.42% from the stock’s current price.
Other research analysts also recently issued reports about the company. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price objective for the company. in a report on Monday, July 3rd. Jefferies Group LLC set a $81.00 price objective on Citigroup and gave the stock a “neutral” rating in a report on Thursday. HSBC Holdings plc set a $74.00 price objective on Citigroup and gave the stock a “hold” rating in a report on Friday, August 11th. Societe Generale upgraded Citigroup from a “sell” rating to a “hold” rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, September 11th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 price objective on shares of Citigroup in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.45.
Citigroup (NYSE:C) traded down 1.637% during trading on Friday, reaching $71.185. The company’s stock had a trading volume of 11,416,069 shares. The firm has a market cap of $193.95 billion, a P/E ratio of 14.251 and a beta of 1.45. The stock’s 50 day moving average is $70.67 and its 200-day moving average is $65.24. Citigroup has a 52 week low of $47.70 and a 52 week high of $76.14.
Citigroup (NYSE:C) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. Citigroup’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. On average, equities research analysts forecast that Citigroup will post $5.21 earnings per share for the current fiscal year.
Citigroup announced that its board has authorized a stock 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 purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the transaction, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after acquiring an additional 189,447,104 shares during the period. Amalgamated Bank increased its stake in Citigroup by 1.0% during the 1st quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after acquiring an additional 1,937 shares during the period. Shelton Capital Management increased its stake in Citigroup by 13.9% during the 1st quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after acquiring an additional 7,384 shares during the period. Brookfield Asset Management Inc. increased its stake in Citigroup by 51.8% during the 1st quarter. Brookfield Asset Management Inc. now owns 43,390 shares of the financial services provider’s stock worth $2,596,000 after acquiring an additional 14,810 shares during the period. Finally, Wafra Investment Advisory Group Inc. NY increased its stake in Citigroup by 138.0% during the 1st quarter. Wafra Investment Advisory Group Inc. NY now owns 203,317 shares of the financial services provider’s stock worth $12,162,000 after acquiring an additional 117,879 shares during the period. Hedge funds and other institutional investors own 75.37% of the company’s stock.
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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