Citigroup (NYSE:C) Downgraded by Zacks Research to Hold

Citigroup (NYSE:C) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

C has been the subject of several other research reports. Oppenheimer boosted their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Barclays boosted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.68.

Citigroup Trading Up 0.9%

Shares of C opened at $100.71 on Monday. Citigroup has a 1-year low of $55.51 and a 1-year high of $100.85. The company has a 50-day moving average of $94.18 and a 200 day moving average of $80.16. The firm has a market capitalization of $185.40 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.86 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the business posted $1.52 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts expect that Citigroup will post 7.53 EPS for the current year.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Large investors have recently added to or reduced their stakes in the stock. Private Advisory Group LLC raised its position in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock worth $4,940,000 after acquiring an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after acquiring an additional 649,807 shares during the period. Brighton Jones LLC raised its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $214,000. Finally, Pinnacle Financial Partners Inc raised its position in shares of Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock valued at $1,317,000 after buying an additional 15,436 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.