BidaskClub upgraded shares of Citigroup Inc. (NYSE:C) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Several other brokerages also recently commented on C. BMO Capital Markets reiterated a buy rating and set a $64.00 price target on shares of Citigroup in a report on Thursday, June 1st. Vetr upgraded shares of Citigroup from a buy rating to a strong-buy rating and set a $71.55 price target on the stock in a report on Wednesday, June 7th. Keefe, Bruyette & Woods set a $69.00 price target on shares of Citigroup and gave the company a buy rating in a report on Thursday, June 8th. UBS AG upgraded shares of Citigroup from a sell rating to a neutral rating and upped their price target for the company from $58.00 to $64.00 in a report on Friday, June 9th. Finally, J P Morgan Chase & Co reiterated a sell rating on shares of Citigroup in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Citigroup has a consensus rating of Buy and a consensus price target of $70.08.

Shares of Citigroup (NYSE C) opened at 71.40 on Thursday. The stock’s 50 day moving average is $68.04 and its 200-day moving average is $63.70. Citigroup has a 12-month low of $45.16 and a 12-month high of $72.20. The stock has a market capitalization of $194.53 billion, a price-to-earnings ratio of 14.29 and a beta of 1.47.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Citigroup will post $5.21 earnings per share for the current year.

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Citigroup announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In related news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were 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 directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Intl Fcstone Inc. acquired a new position in Citigroup during the 2nd quarter valued at approximately $291,000. Gs Investments Inc. acquired a new position in Citigroup during the 2nd quarter valued at approximately $301,000. Lord Abbett & CO. LLC increased its stake in Citigroup by 223.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,126,630 shares of the financial services provider’s stock valued at $142,229,000 after purchasing an additional 1,469,915 shares in the last quarter. Sentry Investment Management LLC increased its stake in Citigroup by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 221,536 shares of the financial services provider’s stock valued at $14,816,000 after purchasing an additional 2,287 shares in the last quarter. Finally, WFG Advisors LP increased its stake in Citigroup by 25.3% during the 2nd quarter. WFG Advisors LP now owns 8,948 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 1,807 shares in the last quarter. 75.38% of the stock is owned by institutional investors.

Citigroup Company Profile

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.

Analyst Recommendations for Citigroup (NYSE:C)

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