Citigroup Inc. (C) Earns “Hold” Rating from BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of Citigroup Inc. (NYSE:C) in a research report sent to investors on Friday morning. BMO Capital Markets currently has a $65.00 price objective on the financial services provider’s stock.
A number of other analysts have also recently commented on C. UBS AG upgraded shares of Citigroup from a sell rating to a neutral rating and upped their price objective for the company from $58.00 to $64.00 in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price objective on shares of Citigroup and gave the company a buy rating in a research report on Sunday, August 13th. Wells Fargo & Company restated a buy rating on shares of Citigroup in a research report on Monday, October 2nd. Atlantic Securities restated an overweight rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Finally, Raymond James Financial, Inc. restated an underperform rating on shares of Citigroup in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $71.65.
Shares of Citigroup (C) opened at 75.64 on Friday. The firm has a 50 day moving average price of $69.77 and a 200-day moving average price of $64.77. The firm has a market capitalization of $206.09 billion, a P/E ratio of 15.14 and a beta of 1.45. Citigroup has a 52 week low of $47.54 and a 52 week high of $76.02.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Citigroup will post $5.21 EPS for the current fiscal year.
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Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in C. BlackRock Inc. raised its holdings in Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after acquiring an additional 189,447,104 shares during the period. FMR LLC raised its holdings in Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after acquiring an additional 16,257,931 shares during the period. Bank of New York Mellon Corp raised its holdings in Citigroup by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after acquiring an additional 10,294,403 shares during the period. Harris Associates L P raised its holdings in Citigroup by 25.9% in the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after acquiring an additional 8,464,257 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Citigroup by 109.5% in the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after acquiring an additional 4,856,866 shares during the period. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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