Citigroup Inc. (C) Upgraded by Vetr Inc. to Hold
Vetr upgraded shares of Citigroup Inc. (NYSE:C) from a sell rating to a hold rating in a research report sent to investors on Monday. Vetr currently has $46.48 price target on the financial services provider’s stock.
C has been the topic of several other research reports. Drexel Hamilton reiterated a buy rating and set a $65.00 target price on shares of Citigroup in a research report on Monday, July 18th. Berenberg Bank began coverage on Citigroup in a research report on Wednesday, July 13th. They set a buy rating and a $50.00 target price on the stock. Jefferies Group reiterated a buy rating on shares of Citigroup in a research report on Sunday, July 10th. Credit Suisse Group AG reiterated a buy rating on shares of Citigroup in a research report on Saturday, July 9th. Finally, Barclays PLC reiterated a buy rating and set a $60.00 target price on shares of Citigroup in a research report on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Citigroup has a consensus rating of Buy and a consensus target price of $55.24.
Shares of Citigroup (NYSE:C) opened at 46.59 on Monday. The company’s 50-day moving average price is $46.40 and its 200 day moving average price is $44.39. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.46. The company has a market cap of $135.36 billion, a P/E ratio of 9.86 and a beta of 1.90.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The business had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The business’s revenue was down 9.9% compared to the same quarter last year. Equities research analysts anticipate that Citigroup will post $4.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were given a $0.16 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, July 28th. Citigroup’s dividend payout ratio is presently 13.59%.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the company’s 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 directly owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Abner Herrman & Brock LLC boosted its position in shares of Citigroup by 49.2% in the first quarter. Abner Herrman & Brock LLC now owns 166,939 shares of the financial services provider’s stock worth $6,970,000 after buying an additional 55,048 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Citigroup by 44.6% in the first quarter. CHICAGO TRUST Co NA now owns 34,590 shares of the financial services provider’s stock worth $1,444,000 after buying an additional 10,673 shares in the last quarter. Nexus Investment Management Inc. boosted its position in shares of Citigroup by 3.0% in the first quarter. Nexus Investment Management Inc. now owns 338,850 shares of the financial services provider’s stock worth $14,147,000 after buying an additional 9,850 shares in the last quarter. Grassi Investment Management acquired a new position in shares of Citigroup during the first quarter worth about $5,757,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Citigroup by 13.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 680,038 shares of the financial services provider’s stock worth $28,392,000 after buying an additional 81,366 shares in the last quarter. 71.70% of the stock is currently owned by hedge funds and other institutional investors.
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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