Citigroup Inc (C) Given Average Recommendation of “Buy” by Brokerages
Citigroup Inc (NYSE:C) has been assigned a consensus rating of “Buy” from the twenty-five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $78.44.
Several brokerages recently commented on C. Vetr raised Citigroup from a “hold” rating to a “buy” rating and set a $80.92 price target for the company in a research note on Monday, December 4th. Credit Suisse Group reissued a “buy” rating and issued a $83.00 price target on shares of Citigroup in a research note on Tuesday, December 12th. Nomura upped their target price on Citigroup to $84.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Citigroup in a research report on Monday, October 9th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 target price on shares of Citigroup in a research report on Friday, October 6th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Citigroup by 227.4% during the third quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock worth $700,395,000 after acquiring an additional 6,688,305 shares in the last quarter. Lazard Asset Management LLC raised its stake in Citigroup by 109.5% during the second quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after acquiring an additional 4,856,866 shares in the last quarter. PointState Capital LP acquired a new position in Citigroup during the second quarter worth $321,322,000. Pioneer Investment Management Inc. raised its stake in Citigroup by 2,317.8% during the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock worth $334,536,000 after acquiring an additional 4,795,145 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Citigroup by 42.4% during the second quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock worth $990,836,000 after acquiring an additional 4,413,329 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.
Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ 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 return on equity of 7.48% and a net margin of 18.11%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. sell-side analysts forecast that Citigroup will post 5.25 EPS for the current year.
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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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