November 28, 2016 - By Richard Conner
In a a note shared with investors and clients on Monday, 28 November, equity research analysts at Jefferies’s research division cut Citigroup (NYSE:C)‘s stock rating from aBuy to Hold.
Out of 28 analysts covering Citigroup Inc. (NYSE:C), 16 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 57% are positive. $74 is the highest target while $4.0 is the lowest. The $54.02 average target is -3.33% below today’s ($55.88) stock price. Citigroup Inc. has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Citigroup given on Friday, December 11. Guggenheim upgraded the stock to “Buy” rating in Friday, August 28 report. The firm earned “Underperform” rating on Monday, September 21 by Iberia Capital Partners. The rating was upgraded by Morgan Stanley on Monday, November 14 to “Overweight”. The company was initiated on Monday, December 21 by Credit Suisse. The rating was upgraded by Zacks on Tuesday, August 25 to “Hold”. As per Monday, September 21, the company rating was maintained by Evercore. The firm has “Overweight” rating given on Monday, March 14 by Barclays Capital. The rating was maintained by Keefe Bruyette & Woods with “Outperform” on Tuesday, January 19. The company was upgraded on Monday, August 24 by Vetr.
About 12.29M shares traded hands. Citigroup Inc (NYSE:C) has risen 21.61% since April 25, 2016 and is uptrending. It has outperformed by 15.60% the S&P500.
Analysts await Citigroup Inc (NYSE:C) to report earnings on January, 18 before the open. They expect $1.09 EPS, up 2.83% or $0.03 from last year’s $1.06 per share. C’s profit will be $3.11B for 12.81 P/E if the $1.09 EPS becomes a reality. After $1.25 actual EPS reported by Citigroup Inc for the previous quarter, Wall Street now forecasts -12.80% negative EPS growth.
Insitutional Activity: The institutional sentiment increased to 0.83 in Q2 2016. Its up 0.09, from 0.74 in 2016Q1. The ratio is positive, as 93 funds sold all Citigroup Inc shares owned while 449 reduced positions. 62 funds bought stakes while 341 increased positions. They now own 2.00 billion shares or 2.42% less from 2.05 billion shares in 2016Q1.
Tsp Cap Mngmt Ltd Liability holds 0.17% of its portfolio in Citigroup Inc (NYSE:C) for 7,700 shares. Reliance Tru Of Delaware last reported 0.18% of its portfolio in the stock. Shikiar Asset Mngmt accumulated 2.27% or 120,239 shares. Boston Advsrs Ltd Liability Company, a Massachusetts-based fund reported 253,724 shares. Louisiana State Employees Retirement Systems owns 192,600 shares or 0.43% of their US portfolio. Motco holds 0% of its portfolio in Citigroup Inc (NYSE:C) for 248 shares. Hourglass Llc last reported 2.8% of its portfolio in the stock. Thompson Investment Incorporated accumulated 1.47% or 169,508 shares. Harris Associates Lp holds 2.42% of its portfolio in Citigroup Inc (NYSE:C) for 28.35 million shares. Patriot Wealth Mngmt Incorporated has 161,041 shares for 1.35% of their US portfolio. Somerset Trust Company last reported 45,115 shares in the company. Cetera Advisor Limited Liability Corporation has invested 0.02% of its portfolio in Citigroup Inc (NYSE:C). Camelot Portfolios Limited Liability has 4,900 shares for 0.12% of their US portfolio. Quinn Opportunity Partners Ltd Liability has invested 4.21% of its portfolio in Citigroup Inc (NYSE:C). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mngmt Corporation holds 314,000 shares or 0.15% of its portfolio.
Insider Transactions: Since July 20, 2016, the stock had 0 insider buys, and 1 sale for $360,211 net activity. The insider MURRAY JOSEPH MICHAEL sold 8,122 shares worth $360,211.
Citigroup Inc. is a financial services holding company. The company has a market cap of $159.50 billion. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. It has a 12.05 P/E ratio. It operates through two divisions: Citicorp and Citi Holdings.
According to Zacks Investment Research, “Citigroup Inc. is a global financial services company. It provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. The Company also offers various wholesale banking products and services, including fixed income and equity sales and trading, foreign exchange, prime brokerage, and equity and fixed income research services. Citigroup Inc. is based in New York.”
Citigroup Inc. (Citi), incorporated on March 8, 1988, is a financial services holding company. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Firm operates through two divisions: Citicorp and Citi Holdings.
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