Citigroup Inc. (C) PT Raised to $79.00
Citigroup Inc. (NYSE:C) had its price objective hoisted by Royal Bank Of Canada from $75.00 to $79.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 9.16% from the stock’s previous close.
Several other analysts have also recently commented on C. BMO Capital Markets restated a “hold” rating and set a $67.00 price target on shares of Citigroup in a report on Friday. Jefferies Group LLC restated a “hold” rating and set a $81.00 price target on shares of Citigroup in a report on Thursday. Keefe, Bruyette & Woods set a $75.00 price target on shares of Citigroup and gave the stock a “buy” rating in a report on Sunday, August 13th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Finally, Credit Suisse Group restated a “buy” rating and set a $83.00 price target (up from $73.00) on shares of Citigroup in a report on Monday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $74.45.
Citigroup (NYSE C) opened at 72.37 on Friday. Citigroup has a 52-week low of $47.70 and a 52-week high of $76.14. The firm has a market cap of $197.18 billion, a price-to-earnings ratio of 14.49 and a beta of 1.45. The stock has a 50 day moving average of $70.67 and a 200-day moving average of $65.24.
Citigroup (NYSE:C) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. On average, analysts expect that Citigroup will post $5.21 EPS for the current year.
Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction on 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 sale, the chief executive officer now owns 77,570 shares in the company, 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.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. First National Bank of Mount Dora Trust Investment Services boosted its stake in Citigroup by 85.3% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 55,007 shares of the financial services provider’s stock worth $4,002,000 after buying an additional 25,317 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Citigroup by 31.0% during the third quarter. Eqis Capital Management Inc. now owns 23,768 shares of the financial services provider’s stock worth $1,729,000 after buying an additional 5,624 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in Citigroup during the second quarter worth $291,000. Gs Investments Inc. acquired a new stake in Citigroup during the second quarter worth $301,000. Finally, Lord Abbett & CO. LLC boosted its stake in Citigroup by 223.8% during the second quarter. Lord Abbett & CO. LLC now owns 2,126,630 shares of the financial services provider’s stock worth $142,229,000 after buying an additional 1,469,915 shares in the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
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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