ValuEngine Lowers Citigroup (NYSE:C) to Sell

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Citigroup (NYSE:C) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their target price for the company from $74.00 to $86.00 in a research report on Friday, July 26th. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Co set a $85.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Barclays raised their target price on shares of Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $79.75.

C stock traded up $2.07 during trading on Monday, hitting $71.81. The company had a trading volume of 13,105,185 shares, compared to its average volume of 14,607,736. The firm has a market capitalization of $157.23 billion, a P/E ratio of 10.80, a PEG ratio of 0.79 and a beta of 1.80. Citigroup has a 52-week low of $48.42 and a 52-week high of $73.08. The company has a 50 day simple moving average of $68.59 and a 200-day simple moving average of $67.72. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.36.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.12. The company had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.54 billion. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 EPS. Sell-side analysts forecast that Citigroup will post 7.55 earnings per share for the current year.

In other news, insider Michael Whitaker sold 7,500 shares of Citigroup stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the transaction, the insider now owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of C. Icon Wealth Partners LLC lifted its stake in shares of Citigroup by 11.2% in the 2nd quarter. Icon Wealth Partners LLC now owns 5,714 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 576 shares during the period. Advisor Partners LLC lifted its stake in shares of Citigroup by 8.2% in the 2nd quarter. Advisor Partners LLC now owns 78,622 shares of the financial services provider’s stock valued at $5,506,000 after purchasing an additional 5,980 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Citigroup in the 2nd quarter valued at $514,000. Clearstead Advisors LLC lifted its stake in shares of Citigroup by 43.7% in the 2nd quarter. Clearstead Advisors LLC now owns 8,747 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 2,661 shares during the period. Finally, Banco Santander S.A. lifted its stake in shares of Citigroup by 77.8% in the 2nd quarter. Banco Santander S.A. now owns 543,659 shares of the financial services provider’s stock valued at $38,073,000 after purchasing an additional 237,925 shares during the period. 76.69% 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).

Further Reading: Intrinsic Value

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Analyst Recommendations for Citigroup (NYSE:C)

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