Today’s Rating Alert: Will Jefferies Downgrade Harm Citigroup (C) Stock Price Today?

November 28, 2016 - By Peter Kolinski

Today's Rating Alert: Will Jefferies Downgrade Harm Citigroup (C) Stock Price Today?

Citigroup (C) Downgrade

Jefferies decreased Citigroup (C)‘s stock to a Hold rating from a Buy. The rating change was issued to clients in a a report today.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 4 analysts covering Citigroup (C), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. Citigroup has been the topic of 4 analyst reports since September 13, 2016 according to StockzIntelligence Inc. The firm has “Sell” rating by Societe Generale given on Tuesday, September 13. The stock has “Overweight” rating given by Morgan Stanley on Monday, November 14. Macquarie Research downgraded the stock to “Neutral” rating in Friday, November 18 report. Goldman Sachs downgraded Citigroup Inc (NYSE:C) on Friday, September 16 to “Neutral” rating.

About 7.04 million shares traded hands. Citigroup Inc (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 earnings per share, up 2.83% or $0.03 from last year’s $1.06 per share. C’s profit will be $3.11 billion for 12.79 P/E if the $1.09 EPS becomes a reality. After $1.25 actual earnings per share 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 improved, 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.

Moreover, Murphy Pohlad Asset Management has 1.21% invested in Citigroup Inc (NYSE:C) for 38,365 shares. Letko Brosseau Associates has 1.81% invested in the company for 4.47 million shares. Capital Management Associate has 0.43% invested in the company for 5,985 shares. Maplelane Capital Ltd Liability Company holds 1 shares or 0% of its portfolio. Karpas Strategies Limited Liability, a New York-based fund reported 42,554 shares. Apg Asset Management Nv holds 0.7% or 8.79 million shares in its portfolio. Key Colony Mngmt Lc accumulated 145,000 shares or 7.83% of the stock. Hills Financial Bank Tru Company accumulated 31,336 shares or 0.49% of the stock. Princeton Port Strategies Gru Ltd Llc owns 8,007 shares or 0.11% of their US portfolio. Peak6 Invs L P last reported 0.1% of its portfolio in the stock. South Dakota Invest Council holds 1.55M shares or 1.44% of its portfolio. Meyer Handelman Com reported 50,421 shares or 0.1% of all its holdings. Minneapolis Port Mngmt Gp Inc Limited Liability Com, a Minnesota-based fund reported 537,678 shares. Thornburg Management accumulated 1.13% or 3.46M shares. Sadoff Mngmt Lc accumulated 3.01% or 595,114 shares.

Insider Transactions: Since July 20, 2016, the stock had 0 buys, and 1 sale for $360,211 net activity. 8,122 shares were sold by MURRAY JOSEPH MICHAEL, worth $360,211.

Citigroup Inc. is a financial services holding company. The company has a market cap of $159.07 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 12.02 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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