Citigroup Inc. (C) Price Target Raised to $58.00
Citigroup Inc. (NYSE:C) had its price objective lifted by Jefferies Group from $54.00 to $58.00 in a research note issued to investors on Monday morning. They currently have a buy rating on the financial services provider’s stock.
Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reaffirmed a hold rating on shares of Citigroup in a research note on Sunday, June 26th. Credit Suisse Group AG reaffirmed a buy rating on shares of Citigroup in a research note on Saturday, July 9th. Vetr raised shares of 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. BMO Capital Markets reaffirmed a buy rating and issued a $66.00 price target (up from $63.00) on shares of Citigroup in a research note on Monday, July 18th. Finally, Argus reaffirmed a hold rating on shares of Citigroup in a research note on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. Citigroup currently has an average rating of Hold and a consensus price target of $54.76.
Shares of Citigroup (NYSE:C) opened at 48.70 on Monday. Citigroup has a 12 month low of $34.52 and a 12 month high of $56.46. The stock has a market capitalization of $141.49 billion, a price-to-earnings ratio of 10.31 and a beta of 1.86. The stock’s 50 day moving average price is $47.38 and its 200-day moving average price is $44.98.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. During the same period in the prior year, the business posted $1.45 earnings per share. Citigroup’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities analysts forecast that Citigroup will post $4.61 earnings per share for the current fiscal year.
In other news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. City Holding Co. boosted its stake in Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock valued at $109,000 after buying an additional 485 shares during the period. Cedar Wealth Management LLC boosted its position in shares of Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Citigroup during the second quarter worth about $116,000. RPg Family Wealth Advisory LLC boosted its position in shares of 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 worth $122,000 after buying an additional 1,426 shares during the last quarter. Finally, First Personal Financial Services boosted its position in shares of Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,070 shares during the last quarter. 71.41% of the stock is currently owned by institutional investors and hedge funds.
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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