Citigroup (C) Receives New Coverage from Analysts at Wolfe Research

Equities research analysts at Wolfe Research started coverage on shares of Citigroup (NYSE:C) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. TheStreet raised shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. BMO Capital Markets increased their price target on shares of Citigroup from $76.00 to $85.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Oppenheimer increased their price target on shares of Citigroup from $89.00 to $91.00 and gave the stock an “outperformer” rating in a research report on Monday, July 16th. Finally, Deutsche Bank raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Citigroup currently has an average rating of “Hold” and an average target price of $81.65.

Shares of C traded up $0.39 during trading hours on Tuesday, reaching $74.23. 80,893 shares of the company traded hands, compared to its average volume of 13,587,174. The firm has a market capitalization of $190.57 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.00 and a beta of 1.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup has a 1-year low of $64.38 and a 1-year high of $80.70.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.08. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. The business had revenue of $18.47 billion during the quarter, compared to analyst estimates of $18.43 billion. equities analysts forecast that Citigroup will post 6.59 earnings per share for the current year.

In other news, insider Raja Akram sold 500 shares of the stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total transaction of $34,605.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC boosted its stake in Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,336 shares during the last quarter. Stelac Advisory Services LLC bought a new position in shares of Citigroup during the first quarter worth $116,000. IMA Wealth Inc. bought a new position in shares of Citigroup during the second quarter worth $129,000. Clearwater Capital Advisors LLC bought a new position in shares of Citigroup during the first quarter worth $143,000. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Citigroup by 197.2% during the second quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 1,678 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

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