Citigroup Inc. (C) Cut to “Hold” at Jefferies Group
Jefferies Group lowered shares of Citigroup Inc. (NYSE:C) from a buy rating to a hold rating in a research report sent to investors on Monday morning. They currently have $63.00 price target on the financial services provider’s stock, up from their previous price target of $58.00.
A number of other equities research analysts have also recently weighed in on the company. Vetr cut Citigroup from a sell rating to a strong sell rating and set a $48.79 price target on the stock. in a report on Monday, November 21st. Macquarie cut Citigroup from an outperform rating to a neutral rating and upped their price target for the stock from $55.45 to $57.00 in a report on Friday, November 18th. Morgan Stanley upgraded Citigroup from an equal weight rating to an overweight rating in a report on Monday, November 14th. Argus restated a hold rating on shares of Citigroup in a report on Tuesday, October 18th. Finally, Compass Point began coverage on Citigroup in a report on Tuesday, October 11th. They issued a sell rating and a $39.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Citigroup has an average rating of Hold and a consensus target price of $56.72.
Shares of Citigroup (NYSE:C) opened at 56.39 on Monday. The stock has a market cap of $160.70 billion, a P/E ratio of 12.26 and a beta of 1.74. The firm has a 50-day moving average price of $51.70 and a 200-day moving average price of $46.86. Citigroup has a 52-week low of $34.52 and a 52-week high of $56.83.
Citigroup (NYSE:C) last released its earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The company had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.32 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts anticipate that Citigroup will post $4.70 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 7th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Citigroup’s dividend payout ratio (DPR) is 13.91%.
A number of institutional investors have recently bought and sold shares of the company. RWC Asset Management LLP increased its position in Citigroup by 59.0% in the third quarter. RWC Asset Management LLP now owns 86,057 shares of the financial services provider’s stock worth $4,064,000 after buying an additional 31,947 shares during the period. Auxier Asset Management boosted its position in shares of Citigroup by 0.8% in the third quarter. Auxier Asset Management now owns 77,820 shares of the financial services provider’s stock worth $3,675,000 after buying an additional 650 shares in the last quarter. Edmond DE Rothschild Monaco acquired a new position in shares of Citigroup during the third quarter worth about $221,000. D.A. Davidson & CO. boosted its position in shares of Citigroup by 83.9% in the third quarter. D.A. Davidson & CO. now owns 48,131 shares of the financial services provider’s stock worth $2,270,000 after buying an additional 21,956 shares in the last quarter. Finally, Whalerock Point Partners LLC acquired a new position in shares of Citigroup during the third quarter worth about $708,000. Institutional investors and hedge funds own 70.81% of the company’s stock.
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.
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