Vetr upgraded shares of Citigroup Inc. (NYSE:C) from a sell rating to a hold rating in a research note published on Monday. They currently have $46.48 price objective on the financial services provider’s stock.
C has been the subject of a number of other reports. Deutsche Bank AG reiterated a hold rating on shares of Citigroup in a research note on Wednesday, June 15th. Jefferies Group reiterated a buy rating on shares of Citigroup in a research note on Monday, August 1st. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $63.00 target price (down from $70.00) on shares of Citigroup in a research note on Wednesday, July 6th. Berenberg Bank assumed coverage on shares of Citigroup in a research note on Wednesday, July 13th. They issued a buy rating and a $50.00 target price for the company. Finally, Goldman Sachs Group Inc. cut shares of Citigroup from a buy rating to a neutral rating and decreased their price objective for the company from $52.00 to $50.00 in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $55.24.
Citigroup (NYSE:C) opened at 46.90 on Monday. Citigroup has a 1-year low of $34.52 and a 1-year high of $56.46. The stock has a market capitalization of $136.26 billion, a price-to-earnings ratio of 9.93 and a beta of 1.90. The company has a 50-day moving average of $46.60 and a 200-day moving average of $44.43.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The firm had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. Analysts anticipate that Citigroup will post $4.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, July 28th. This is an increase from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. Citigroup’s dividend payout ratio (DPR) is currently 13.59%.
In related news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in C. Quotient Investors LLC increased its stake in Citigroup by 65.7% in the first quarter. Quotient Investors LLC now owns 17,900 shares of the financial services provider’s stock worth $747,000 after buying an additional 7,100 shares during the period. Berkshire Asset Management LLC PA boosted its position in shares of Citigroup by 0.3% in the first quarter. Berkshire Asset Management LLC PA now owns 184,615 shares of the financial services provider’s stock worth $7,708,000 after buying an additional 614 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of Citigroup by 33.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 61,570 shares of the financial services provider’s stock worth $2,571,000 after buying an additional 15,545 shares in the last quarter. Heritage Investors Management Corp boosted its position in shares of Citigroup by 1.9% in the first quarter. Heritage Investors Management Corp now owns 219,983 shares of the financial services provider’s stock worth $9,184,000 after buying an additional 4,142 shares in the last quarter. Finally, Banced Corp boosted its position in shares of Citigroup by 18.3% in the first quarter. Banced Corp now owns 10,614 shares of the financial services provider’s stock worth $443,000 after buying an additional 1,645 shares in the last quarter. 71.41% of the stock is owned by institutional investors.
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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