StockNews.com Initiates Coverage on Citigroup (NYSE:C)

Investment analysts at StockNews.com initiated coverage on shares of Citigroup (NYSE:C – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Several other research firms also recently weighed in on C. Barclays increased their price target on shares of Citigroup from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Morgan Stanley decreased their price objective on shares of Citigroup from $45.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, January 6th. Oppenheimer raised their price objective on shares of Citigroup from $83.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Piper Sandler raised their price objective on shares of Citigroup from $47.00 to $51.00 in a research report on Tuesday, January 17th. Finally, Bank of America raised their price objective on shares of Citigroup from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.47.

Citigroup Trading Down 5.4 %

Shares of C stock opened at $44.82 on Thursday. Citigroup has a 12-month low of $40.01 and a 12-month high of $58.25. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.49. The firm’s 50 day moving average is $50.26 and its 200 day moving average is $47.45. The stock has a market capitalization of $87.12 billion, a P/E ratio of 6.40, a P/E/G ratio of 1.63 and a beta of 1.59.

Citigroup (NYSE:C – Get Rating) last released its quarterly earnings results on Friday, January 13th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.08). Citigroup had a return on equity of 8.14% and a net margin of 14.73%. The business had revenue of $18.01 billion during the quarter, compared to the consensus estimate of $17.91 billion. Research analysts expect that Citigroup will post 5.94 earnings per share for the current year.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Michael Whitaker sold 12,500 shares of Citigroup stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the transaction, the insider now directly owns 239,429 shares of the company’s stock, valued at approximately $12,361,719.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Citigroup news, insider Sara Wechter sold 2,950 shares of Citigroup stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $50.77, for a total value of $149,771.50. Following the completion of the transaction, the insider now directly owns 82,779 shares of the company’s stock, valued at approximately $4,202,689.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Whitaker sold 12,500 shares of Citigroup stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $51.63, for a total transaction of $645,375.00. Following the completion of the transaction, the insider now directly owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,353 shares of company stock worth $1,403,390. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Veriti Management LLC boosted its stake in shares of Citigroup by 10.5% during the 3rd quarter. Veriti Management LLC now owns 35,745 shares of the company’s stock worth $1,489,000 after purchasing an additional 3,410 shares during the period. Montecito Bank & Trust boosted its stake in shares of Citigroup by 3.9% during the 3rd quarter. Montecito Bank & Trust now owns 13,415 shares of the company’s stock worth $559,000 after purchasing an additional 501 shares during the period. New England Asset Management Inc. boosted its stake in shares of Citigroup by 5.4% during the 3rd quarter. New England Asset Management Inc. now owns 163,150 shares of the company’s stock worth $6,798,000 after purchasing an additional 8,350 shares during the period. Cordatus Wealth Management LLC lifted its holdings in Citigroup by 2.6% during the 3rd quarter. Cordatus Wealth Management LLC now owns 47,199 shares of the company’s stock valued at $1,967,000 after buying an additional 1,217 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Citigroup by 27.3% during the 3rd quarter. Bessemer Group Inc. now owns 85,115 shares of the company’s stock valued at $3,546,000 after buying an additional 18,249 shares in the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.

Citigroup Company Profile

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.