Citigroup Inc. (C) Downgraded by Vetr Inc.
Citigroup Inc. (NYSE:C) was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday. They currently have a $47.03 price target on the financial services provider’s stock. Vetr‘s target price suggests a potential downside of 4.00% from the stock’s current price.
Several other research analysts also recently issued reports on the stock. Compass Point assumed coverage on shares of Citigroup in a report on Tuesday. They set a “sell” rating and a $39.00 price target for the company. Jefferies Group increased their price objective on Citigroup from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday. Nomura restated a “buy” rating and issued a $55.00 price objective on shares of Citigroup in a report on Thursday, September 29th. Credit Agricole SA increased their price objective on Citigroup from $61.00 to $63.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $50.00 in a report on Friday, September 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Citigroup has an average rating of “Hold” and an average price target of $54.76.
Citigroup (NYSE:C) traded down 1.13% during mid-day trading on Tuesday, hitting $48.99. The company’s stock had a trading volume of 16,033,289 shares. The firm has a 50 day moving average of $47.32 and a 200-day moving average of $44.96. The firm has a market cap of $142.33 billion, a price-to-earnings ratio of 10.37 and a beta of 1.86. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.46.
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Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. On average, equities research analysts expect that Citigroup will post $4.61 EPS for the current fiscal year.
In related news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were 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 approximately $1,554,112.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacific Global Investment Management CO increased its position in Citigroup by 4.2% in the first quarter. Pacific Global Investment Management CO now owns 34,500 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 1,377 shares during the period. RPg Family Wealth Advisory LLC increased its position in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,426 shares during the period. Rafferty Asset Management LLC increased its position in Citigroup by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 400,386 shares of the financial services provider’s stock valued at $16,716,000 after buying an additional 131,995 shares during the period. Kiltearn Partners LLP increased its position in Citigroup by 25.3% in the first quarter. Kiltearn Partners LLP now owns 4,382,011 shares of the financial services provider’s stock valued at $182,949,000 after buying an additional 885,600 shares during the period. Finally, BB&T Securities LLC increased its position in Citigroup by 2.0% in the first quarter. BB&T Securities LLC now owns 93,988 shares of the financial services provider’s stock valued at $3,923,000 after buying an additional 1,887 shares during the period. 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.
To view Vetr’s full report, visit Vetr’s official website.
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