Argus Reiterates “Hold” Rating for Citigroup Inc. (C)
Citigroup Inc. (NYSE:C)‘s stock had its “hold” rating restated by Argus in a research report issued on Tuesday.
Several other brokerages have also issued reports on C. Compass Point initiated coverage on Citigroup in a research note on Tuesday, October 11th. They issued a “sell” rating and a $39.00 target price on the stock. Jefferies Group lifted their price target on Citigroup from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, October 10th. Vetr cut Citigroup from a “hold” rating to a “sell” rating and set a $47.03 price target for the company. in a research report on Tuesday, October 11th. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Finally, Nomura reduced their price target on Citigroup from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, September 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. Citigroup has an average rating of “Buy” and a consensus price target of $54.76.
Shares of Citigroup (NYSE:C) traded up 0.854% during mid-day trading on Tuesday, hitting $49.015. The company had a trading volume of 10,898,955 shares. The company has a market capitalization of $142.41 billion, a PE ratio of 10.374 and a beta of 1.86. The company’s 50-day moving average is $47.53 and its 200 day moving average is $45.15. Citigroup has a one year low of $34.52 and a one year high of $56.46.
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Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The business had revenue of $17.80 billion for the quarter, compared to analyst estimates of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. Citigroup’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. On average, equities research analysts forecast that Citigroup will post $4.61 EPS for the current fiscal year.
In other news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in C. Jennison Associates boosted its position in Citigroup by 186.6% in the third quarter. Jennison Associates now owns 9,148,562 shares of the financial services provider’s stock valued at $453,860,000 after buying an additional 5,956,725 shares during the last quarter. Baker Avenue Asset Management boosted its position in shares of Citigroup by 18.0% in the third quarter. Baker Avenue Asset Management now owns 163,423 shares of the financial services provider’s stock worth $8,107,000 after buying an additional 24,933 shares in the last quarter. Eagle Asset Management boosted its position in shares of Citigroup by 89.8% in the third quarter. Eagle Asset Management now owns 2,350,778 shares of the financial services provider’s stock worth $116,622,000 after buying an additional 1,112,224 shares in the last quarter. MUFG Americas boosted its position in shares of Citigroup by 9.5% in the third quarter. MUFG Americas now owns 145,512 shares of the financial services provider’s stock worth $7,219,000 after buying an additional 12,613 shares in the last quarter. Finally, Stillwater Investment Management boosted its position in shares of Citigroup by 1.0% in the fourth quarter. Stillwater Investment Management now owns 29,323 shares of the financial services provider’s stock worth $1,517,000 after buying an additional 299 shares in the last quarter. 71.26% of the stock is currently owned by hedge funds and other 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.
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