Citigroup Inc (C) Raised to Buy at Vetr Inc.

Vetr upgraded shares of Citigroup Inc (NYSE:C) from a hold rating to a buy rating in a research report released on Tuesday. Vetr currently has $61.38 price target on the financial services provider’s stock.

A number of other brokerages also recently commented on C. Zacks Investment Research downgraded shares of Citigroup from a buy rating to a hold rating in a report on Tuesday, January 31st. Guggenheim reiterated a buy rating on shares of Citigroup in a report on Sunday, December 4th. Standpoint Research downgraded shares of Citigroup from a buy rating to a hold rating in a report on Tuesday, January 10th. Atlantic Securities upgraded shares of Citigroup from a neutral rating to an overweight rating and boosted their target price for the stock from $60.80 to $70.00 in a report on Wednesday, December 21st. Finally, Deutsche Bank AG boosted their target price on shares of Citigroup from $49.00 to $61.00 and gave the stock a hold rating in a report on Wednesday, November 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $60.81.

Analyst Recommendations for Citigroup (NYSE:C)

Citigroup (NYSE:C) opened at 58.07 on Tuesday. The company has a 50 day moving average of $59.71 and a 200-day moving average of $55.11. Citigroup has a 12-month low of $38.31 and a 12-month high of $62.53. The stock has a market cap of $160.90 billion, a P/E ratio of 12.30 and a beta of 1.68.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 18th. The financial services provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The business earned $17 billion during the quarter, compared to the consensus estimate of $17.26 billion. Citigroup had a net margin of 18.10% and a return on equity of 7.09%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. Equities analysts forecast that Citigroup will post $5.18 earnings per share for the current year.

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In other news, CEO Michael Corbat sold 83,285 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $60.14, for a total transaction of $5,008,759.90. Following the completion of the transaction, the chief executive officer now directly owns 548,060 shares of the company’s stock, valued at approximately $32,960,328.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider W. Bradford Hu sold 10,109 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.96, for a total value of $565,699.64. Following the transaction, the insider now directly owns 37,137 shares of the company’s stock, valued at $2,078,186.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,303 shares of company stock worth $12,606,410. Insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gemmer Asset Management LLC increased its position in shares of Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock valued at $106,000 after buying an additional 69 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Citigroup during the fourth quarter valued at $106,000. City Holding Co. increased its position in shares of Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock valued at $109,000 after buying an additional 485 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock valued at $116,000 after buying an additional 753 shares during the last quarter. Finally, Patten Group Inc. increased its position in shares of Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock valued at $118,000 after buying an additional 265 shares during the last quarter. 73.82% of the stock is owned by institutional investors and hedge funds.

About Citigroup

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.

5 Day Chart for NYSE:C

To view Vetr’s full report, visit Vetr’s official website.

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