Citigroup’s (C) Buy Rating Reaffirmed at Wells Fargo & Company
Several other brokerages have also issued reports on C. UBS AG raised Citigroup from a sell rating to a neutral rating and upped their price target for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company a buy rating in a report on Sunday, August 13th. Raymond James Financial, Inc. reiterated an underperform rating on shares of Citigroup in a research report on Wednesday, September 27th. Atlantic Securities reiterated an overweight rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Finally, Deutsche Bank AG reissued a hold rating and set a $67.00 price objective (up from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $71.16.
Citigroup (C) opened at 73.80 on Monday. The company has a market capitalization of $201.07 billion, a price-to-earnings ratio of 14.77 and a beta of 1.45. Citigroup has a 52 week low of $47.08 and a 52 week high of $73.89. The firm’s 50-day moving average price is $68.94 and its 200-day moving average price is $64.41.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. On average, equities analysts expect that Citigroup will post $5.20 earnings per share for the current year.
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Citigroup declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the sale, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in C. Waldron LP lifted its position in Citigroup by 21.2% during the 1st quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock worth $436,000 after buying an additional 1,276 shares in the last quarter. Amica Mutual Insurance Co. grew its holdings in shares of Citigroup by 8.9% in the 1st quarter. Amica Mutual Insurance Co. now owns 226,933 shares of the financial services provider’s stock valued at $13,575,000 after acquiring an additional 18,567 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in shares of Citigroup by 73.2% in the 1st quarter. Eqis Capital Management Inc. now owns 20,624 shares of the financial services provider’s stock valued at $1,234,000 after acquiring an additional 8,714 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Citigroup by 3.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,652,274 shares of the financial services provider’s stock valued at $517,579,000 after acquiring an additional 258,265 shares in the last quarter. Finally, Pillar Pacific Capital Management LLC grew its holdings in shares of Citigroup by 1.1% in the 1st quarter. Pillar Pacific Capital Management LLC now owns 118,494 shares of the financial services provider’s stock valued at $7,088,000 after acquiring an additional 1,310 shares in the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.
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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