Citigroup Inc. (NYSE:C) released its quarterly earnings results on Friday. The financial services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The firm earned $17.80 billion during the quarter, compared to analyst estimates of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS.
Citigroup (NYSE:C) opened at 48.60 on Tuesday. The stock has a market capitalization of $141.20 billion, a price-to-earnings ratio of 10.29 and a beta of 1.86. Citigroup has a 12 month low of $34.52 and a 12 month high of $56.46. The company has a 50-day moving average price of $47.53 and a 200 day moving average price of $45.15.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the sale, the insider now owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC raised its stake 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 in the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Citigroup during the second quarter worth $208,000. FCG Advisors LLC acquired a new stake in shares of Citigroup during the second quarter worth $283,000. Argent Trust Co raised its stake in shares of Citigroup by 37.1% in the second quarter. Argent Trust Co now owns 6,806 shares of the financial services provider’s stock worth $288,000 after buying an additional 1,842 shares in the last quarter. Finally, Vaughan David Investments Inc. IL raised its stake in shares of Citigroup by 23.0% in the second quarter. Vaughan David Investments Inc. IL now owns 7,006 shares of the financial services provider’s stock worth $297,000 after buying an additional 1,310 shares in the last quarter. 71.26% of the stock is currently owned by institutional investors.
C has been the subject of several recent research reports. Nomura reissued a “buy” rating and issued a $55.00 price target on shares of Citigroup in a research report on Thursday, September 29th. Compass Point started coverage on Citigroup in a research note on Tuesday, October 11th. They set a “sell” rating and a $39.00 target price on the stock. Drexel Hamilton restated a “buy” rating and set a $65.00 target price on shares of Citigroup in a research note on Monday, July 18th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 target price on the stock in a research note on Tuesday, July 5th. Finally, TheStreet upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.76.
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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