BidaskClub upgraded shares of Citigroup Inc. (NYSE:C) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.
C has been the topic of a number of other reports. Atlantic Securities reiterated an overweight rating and issued a $85.00 price target (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Zacks Investment Research upgraded Citigroup from a sell rating to a hold rating in a report on Friday, July 7th. Vetr upgraded Citigroup from a buy rating to a strong-buy rating and set a $76.34 price target on the stock in a report on Thursday, August 3rd. BMO Capital Markets reiterated a hold rating and issued a $65.00 price target on shares of Citigroup in a report on Friday, October 6th. Finally, Buckingham Research reiterated a buy rating and issued a $81.00 price target (up from $70.00) on shares of Citigroup in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $72.08.
Shares of Citigroup (NYSE:C) opened at 75.18 on Tuesday. The company has a market capitalization of $204.83 billion, a P/E ratio of 15.05 and a beta of 1.45. Citigroup has a 12-month low of $47.54 and a 12-month high of $76.02. The firm has a 50-day moving average price of $70.29 and a 200 day moving average price of $65.12.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the business posted $1.24 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict 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 buyback plan on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in C. Waldron LP increased its stake in shares of Citigroup by 21.2% in the 1st quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 1,276 shares in the last quarter. Girard Partners LTD. increased its stake in shares of Citigroup by 77.1% in the 1st quarter. Girard Partners LTD. now owns 6,135 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 2,671 shares in the last quarter. Boston Partners increased its stake in shares of Citigroup by 16.1% in the 1st quarter. Boston Partners now owns 22,670,807 shares of the financial services provider’s stock valued at $1,356,168,000 after purchasing an additional 3,139,679 shares in the last quarter. Pekin Singer Strauss Asset Management IL increased its stake in shares of Citigroup by 2.1% in the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 21,532 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 437 shares in the last quarter. Finally, Princeton Alpha Management LP increased its stake in shares of Citigroup by 87.5% in the 1st quarter. Princeton Alpha Management LP now owns 12,908 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 6,022 shares in the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
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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