Citigroup Inc (NYSE:C) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Citigroup Inc (NYSE:C) have been given an average rating of “Buy” by the twenty-three ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $80.78.
Several equities analysts have recently issued reports on C shares. JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price target for the company. Morgan Stanley cut GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $23.00 to $18.00 in a research report on Tuesday, April 16th. Odeon Capital Group initiated coverage on Citigroup in a research report on Wednesday, March 27th. They set a “hold” rating for the company. Berenberg Bank cut to a “hold” rating and decreased their target price for the stock from GBX 283 ($3.70) to GBX 103 ($1.35) in a research report on Monday, June 17th. Finally, Goldman Sachs Group upgraded UCB S A/ADR from a “neutral” rating to a “buy” rating in a report on Thursday, May 30th.
Shares of C traded down $0.92 during mid-day trading on Friday, hitting $70.87. The company had a trading volume of 857,603 shares, compared to its average volume of 12,860,683. The business has a 50-day moving average of $68.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup has a 1-year low of $48.42 and a 1-year high of $75.24. The company has a market cap of $163.77 billion, a PE ratio of 10.66, a PEG ratio of 0.77 and a beta of 1.74.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.88%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. Citigroup’s payout ratio is presently 27.07%.
In other Citigroup news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total transaction of $2,079,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Citigroup by 9.1% in the 2nd quarter. Bessemer Group Inc. now owns 3,956,961 shares of the financial services provider’s stock worth $277,106,000 after acquiring an additional 331,498 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in Citigroup in the 2nd quarter worth approximately $208,000. Meridian Wealth Management LLC raised its holdings in Citigroup by 236.4% in the 2nd quarter. Meridian Wealth Management LLC now owns 4,084 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 2,870 shares during the last quarter. Camelot Portfolios LLC raised its stake in Citigroup by 131.3% during the 2nd quarter. Camelot Portfolios LLC now owns 17,600 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 9,990 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in Citigroup by 7.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 28,793 shares of the financial services provider’s stock valued at $2,016,000 after buying an additional 2,078 shares during the last quarter. 75.98% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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