Citigroup Inc. (NYSE:C) had its price target raised by analysts at Nomura from $80.00 to $81.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Nomura’s price target indicates a potential upside of 11.92% from the stock’s current price.
C has been the subject of several other research reports. Atlantic Securities reaffirmed an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Bank of America Corporation reaffirmed a “neutral” rating on shares of Citigroup in a research note on Wednesday. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective for the company in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $65.00 price objective on shares of Citigroup in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and an average price target of $74.99.
Citigroup (C) traded down 1.27% on Friday, reaching $71.45. 13,224,967 shares of the company’s stock traded hands. Citigroup has a 52-week low of $47.70 and a 52-week high of $76.14. The firm’s 50 day moving average price is $70.67 and its 200 day moving average price is $65.24. The firm has a market capitalization of $194.67 billion, a PE ratio of 14.30 and a beta of 1.45.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Citigroup will post $5.21 EPS for the current fiscal year.
Citigroup announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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In other Citigroup news, 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 sale, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. bought a new position in Citigroup in the 2nd quarter valued at about $1,034,000. Catamount Wealth Management bought a new position in Citigroup in the 2nd quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Citigroup by 206.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,030 shares during the period. Dubuque Bank & Trust Co. increased its holdings in Citigroup by 60.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the period. Finally, Balentine LLC increased its holdings in Citigroup by 20.2% in the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after buying an additional 272 shares during the period. 75.37% 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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