Citigroup Inc. (C) Upgraded by BidaskClub to “Buy”
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.
ILLEGAL ACTIVITY WARNING: “Citigroup Inc. (C) Upgraded by BidaskClub to “Buy”” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/25/citigroup-inc-c-upgraded-by-bidaskclub-to-buy.html.
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.
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.