Raymond James Financial, Inc. initiated coverage on shares of Citigroup Inc. (NYSE:C) in a research note published on Tuesday, October 31st. The brokerage issued a hold rating on the financial services provider’s stock.
Several other research firms have also recently issued reports on C. Bank of America Corporation reiterated a neutral rating on shares of Citigroup in a research note on Wednesday, October 11th. Credit Suisse Group reiterated an outperform rating and issued a $76.00 target price (up from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub cut shares of Citigroup from a buy rating to a hold rating in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated a buy rating on shares of Citigroup in a research note on Monday, October 2nd. Finally, Deutsche Bank AG restated a hold rating on shares of Citigroup in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $75.61.
Citigroup (NYSE:C) traded down $0.34 during mid-day trading on Tuesday, hitting $71.33. 11,786,729 shares of the stock traded hands, compared to its average volume of 13,527,379. The stock has a market cap of $188,596.67, a P/E ratio of 13.74, a P/E/G ratio of 1.40 and a beta of 1.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.01 and a quick ratio of 1.01. Citigroup has a fifty-two week low of $54.98 and a fifty-two week high of $76.14.
Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. equities analysts forecast that Citigroup will post 5.31 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a yield of 1.79%. Citigroup’s dividend payout ratio (DPR) is 24.66%.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after acquiring an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. raised its holdings in Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after acquiring an additional 4,391,347 shares in the last quarter. FMR LLC raised its holdings in Citigroup by 3.8% in the second quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after acquiring an additional 4,061,637 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Citigroup by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the financial services provider’s stock worth $3,083,874,000 after purchasing an additional 2,943,282 shares in the last quarter. Finally, Harris Associates L P raised its holdings in Citigroup by 0.5% during the second quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock worth $2,765,551,000 after purchasing an additional 221,171 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other 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.
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