Citigroup Inc. (C) Coverage Initiated by Analysts at Compass Point
Analysts at Compass Point began coverage on shares of Citigroup Inc. (NYSE:C) in a research note issued on Tuesday, The Fly reports. The firm set a “sell” rating on the financial services provider’s stock.
Several other brokerages have also issued reports on C. Nomura reiterated a “buy” rating and issued a $55.00 price target on shares of Citigroup in a research note on Thursday, September 29th. Drexel Hamilton reiterated a “buy” rating and issued a $65.00 price target on shares of Citigroup in a research note on Monday, July 18th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target on the stock in a research note on Tuesday, July 5th. TheStreet upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Citigroup in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $55.52.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share 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 return on equity of 7.24% and a net margin of 17.97%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/citigroup-inc-c-coverage-initiated-by-analysts-at-compass-point.html
In other news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value 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 filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in C. Emerald Acquisition Ltd. acquired a new position in Citigroup during the second quarter valued at about $500,315,000. Vanguard Group Inc. raised its position in shares of Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock valued at $7,420,348,000 after buying an additional 5,872,249 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Citigroup by 38.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,929,535 shares of the financial services provider’s stock valued at $760,033,000 after buying an additional 4,966,503 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Citigroup during the first quarter valued at $199,573,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Citigroup by 39.8% in the second quarter. TIAA CREF Investment Management LLC now owns 15,857,100 shares of the financial services provider’s stock valued at $672,182,000 after buying an additional 4,510,455 shares during the period. 71.41% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.