Citigroup Inc. (NYSE:C) had its price objective increased by Credit Agricole SA from $61.00 to $63.00 in a research note issued on Friday. The firm currently has a “buy” rating on the financial services provider’s stock. Credit Agricole SA’s target price suggests a potential upside of 33.73% from the company’s current price.
C has been the subject of several other research reports. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 price target for the company. in a report on Monday, July 11th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research report on Wednesday, June 15th. Jefferies Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, August 1st. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $63.00 price objective (down previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 6th. Finally, Berenberg Bank started coverage on shares of Citigroup in a research report on Wednesday, July 13th. They issued a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and an average target price of $55.62.
Citigroup (NYSE:C) traded up 0.117% during midday trading on Friday, reaching $47.165. 2,475,245 shares of the company’s stock were exchanged. The stock has a market cap of $137.03 billion, a P/E ratio of 9.982 and a beta of 1.90. The firm’s 50-day moving average is $46.69 and its 200 day moving average is $44.45. Citigroup has a 1-year low of $34.52 and a 1-year high of $56.46.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share. Equities analysts anticipate that Citigroup will post $4.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Citigroup’s previous quarterly dividend of $0.05. Citigroup’s dividend payout ratio is 13.59%.
In other news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the completion of the transaction, the insider now owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of C. Cedar Wealth Management LLC raised its position in shares of Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Citigroup during the second quarter worth about $116,000. RPg Family Wealth Advisory LLC raised its position in shares of Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,426 shares during the period. First Personal Financial Services raised its position in shares of Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,070 shares during the period. Finally, Winslow Evans & Crocker Inc. raised its position in shares of Citigroup by 9.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,674 shares of the financial services provider’s stock worth $156,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 71.41% of the company’s stock.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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