Citigroup Inc. (C) Price Target Raised to $58.00
Citigroup Inc. (NYSE:C) had its price target lifted by research analysts at Jefferies Group from $54.00 to $58.00 in a note issued to investors on Monday. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Group’s price target indicates a potential upside of 17.05% from the company’s previous close.
Several other equities research analysts have also weighed in on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Citigroup in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a report on Sunday, June 26th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 target price on the stock in a report on Tuesday, July 5th. Argus reaffirmed a “hold” rating on shares of Citigroup in a report on Monday, July 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $66.00 target price (up previously from $63.00) on shares of Citigroup in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Citigroup has a consensus rating of “Buy” and an average target price of $55.52.
Shares of Citigroup (NYSE:C) traded up 0.55% during mid-day trading on Monday, reaching $49.55. 14,020,245 shares of the company traded hands. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.46. The stock has a market capitalization of $143.96 billion, a PE ratio of 10.49 and a beta of 1.86. The stock’s 50 day moving average is $47.17 and its 200 day moving average is $44.84.
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Citigroup (NYSE:C) last released its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. On average, analysts anticipate that Citigroup will post $4.61 earnings per share for the current year.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock worth $206,341,000 after buying an additional 738,298 shares during the period. Boston Advisors LLC bought a new position in Citigroup during the second quarter worth approximately $10,755,000. Sanders Capital LLC increased its position in Citigroup by 0.6% in the second quarter. Sanders Capital LLC now owns 16,006,239 shares of the financial services provider’s stock worth $693,526,000 after buying an additional 89,414 shares during the period. Legal & General Group Plc increased its position in Citigroup by 2.1% in the first quarter. Legal & General Group Plc now owns 14,126,657 shares of the financial services provider’s stock worth $589,847,000 after buying an additional 289,283 shares during the period. Finally, Orbis Allan Gray Ltd bought a new position in Citigroup during the first quarter worth approximately $181,532,000. 71.41% of the stock is owned by institutional investors.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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