Shares of Citigroup Inc. (NYSE:C) have been assigned an average recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $74.34.
C has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $75.00 target price on Citigroup and gave the stock a “buy” rating in a report on Sunday, August 13th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Citigroup in a report on Wednesday, September 27th. Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $67.00 target price (up from $61.00) on shares of Citigroup in a report on Tuesday, September 26th.
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 Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The company had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the previous year, the firm posted $1.24 EPS. Citigroup’s revenue was up 2.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a yield of 1.74%. Citigroup’s dividend payout ratio is presently 24.66%.
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In other news, 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 transaction of $344,850.00. Following the completion of the sale, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Analysts LLC boosted its stake in shares of Citigroup by 5.4% during the second quarter. Capital Analysts LLC now owns 45,844 shares of the financial services provider’s stock worth $3,066,000 after buying an additional 2,367 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Citigroup by 5.2% during the second quarter. Principal Financial Group Inc. now owns 4,152,299 shares of the financial services provider’s stock worth $277,705,000 after buying an additional 205,298 shares during the period. BlackRock Inc. boosted its stake in shares of Citigroup by 2,718.7% during the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares during the period. Amalgamated Bank boosted its stake in shares of Citigroup by 1.0% during the first quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after buying an additional 1,937 shares during the period. Finally, Shelton Capital Management boosted its stake in shares of Citigroup by 13.9% during the first quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after buying an additional 7,384 shares during the period. Institutional investors and hedge funds own 72.31% 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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