Rating Worth Mentioning: Is Citigroup (NYSE:C) a Stock to Sell After Jefferies Downgrade?

November 28, 2016 - By Marguerite Chambers

Rating Worth Mentioning: Is Citigroup (NYSE:C) a Stock to Sell After Jefferies Downgrade?

Citigroup (NYSE:C) Downgrade

Trading of Citigroup (NYSE:C)‘s shares is going to be interesting today. Jefferies downgraded the stock from a “Buy” to a “Hold”.

Citigroup Inc (NYSE:C) Ratings Coverage

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 -3.41% below today’s ($55.93) stock price. Citigroup Inc. has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Guggenheim on Friday, August 28 to “Buy”. The firm earned “Buy” rating on Monday, August 24 by SunTrust. Vetr upgraded Citigroup Inc (NYSE:C) rating on Monday, August 24. Vetr has “Hold” rating and $57.36 price target. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Hold”. The company was maintained on Friday, September 23 by CLSA. Barclays Capital maintained it with “Overweight” rating and $60 target price in Monday, March 14 report. On Friday, January 29 the stock rating was maintained by Oppenheimer with “Outperform”. Oppenheimer maintained it with “Outperform” rating and $72 target price in Friday, October 16 report. The firm earned “Buy” rating on Monday, November 30 by Guggenheim. The rating was maintained by JP Morgan with “Overweight” on Thursday, April 7.

About 5.32M 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 $3.11 billion for 12.83 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 2016 Q2. Its up 0.09, from 0.74 in 2016Q1. The ratio increased, 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.

The Maryland-based Chevy Chase Tru Holding Inc has invested 0.74% in Citigroup Inc (NYSE:C). Grt Ltd Liability Com last reported 33,000 shares in the company. Tarbox Grp Incorporated, a California-based fund reported 4,759 shares. First Advsrs L P has invested 0.07% of its portfolio in Citigroup Inc (NYSE:C). Lockheed Martin Invest Management holds 0.64% or 153,000 shares in its portfolio. Eagle Capital Mngmt Ltd Liability holds 4.89% of its portfolio in Citigroup Inc (NYSE:C) for 26.86 million shares. Amica Pension Fund Board Of Trustees accumulated 162,158 shares or 0.9% of the stock. Highlander Capital Mgmt Ltd Llc has invested 0.57% of its portfolio in Citigroup Inc (NYSE:C). Sage Financial Gp accumulated 450 shares or 0.01% of the stock. Checchi Cap Advisers Lc has invested 0.12% of its portfolio in Citigroup Inc (NYSE:C). De Burlo Grp owns 38,000 shares or 0.39% of their US portfolio. Midas Mgmt reported 17,000 shares or 0.41% of all its holdings. Ny State Common Retirement Fund reported 10.72M shares or 0.66% of all its holdings. Manning & Napier Advisors Ltd Llc last reported 77,446 shares in the company. Manikay Prtn Ltd Liability Com holds 7.26% of its portfolio in Citigroup Inc (NYSE:C) for 2.25 million shares.

Insider Transactions: Since July 20, 2016, the stock had 0 insider purchases, and 1 sale for $360,211 net activity. $360,211 worth of shares were sold by MURRAY JOSEPH MICHAEL on Wednesday, July 20.

Citigroup Inc. is a financial services holding company. The company has a market cap of $159.64 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 12.06 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.”

C Company Profile

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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