By otakuyassine3@gmail.com 
Citigroup (NYSE:C – Get Free Report) had its price objective dropped by analysts at Bank of America from $90.00 to $89.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 41.21% from the stock’s current price.
Other analysts have also issued reports about the company. The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI decreased their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.
Get Our Latest Research Report on C
Citigroup Trading Down 12.2 %
Shares of Citigroup stock opened at $63.03 on Wednesday. The stock has a market capitalization of $118.62 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $76.08 and a 200 day simple moving average of $70.95.
Citigroup (NYSE:C – Get Free Report) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Research analysts expect that Citigroup will post 7.53 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insiders Place Their Bets
In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the third quarter valued at about $31,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the fourth quarter worth about $34,000. Finally, Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.
Citigroup Company Profile
Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.
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