Citigroup’s (C) Overweight Rating Reaffirmed at J P Morgan Chase & Co

J P Morgan Chase & Co reiterated their overweight rating on shares of Citigroup Inc. (NYSE:C) in a research note released on Friday morning. The firm currently has a $78.50 price target on the financial services provider’s stock, up from their prior price target of $77.50.

Several other brokerages also recently commented on C. Wells Fargo & Company reaffirmed a buy rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a buy rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Raymond James Financial, Inc. reaffirmed an underperform rating on shares of Citigroup in a report on Wednesday, September 27th. Deutsche Bank AG reaffirmed a hold rating and set a $67.00 target price (up previously from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, Atlantic Securities reaffirmed an overweight rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $72.08.

Shares of Citigroup (C) opened at 75.39 on Friday. The company has a market capitalization of $205.40 billion, a PE ratio of 15.09 and a beta of 1.45. The firm’s 50-day moving average is $70.03 and its 200-day moving average is $64.99. Citigroup has a 12-month low of $47.54 and a 12-month high of $76.02.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. Citigroup’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. On average, equities research analysts anticipate that Citigroup will post $5.20 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Citigroup’s (C) Overweight Rating Reaffirmed at J P Morgan Chase & Co” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/citigroups-c-overweight-rating-reaffirmed-at-j-p-morgan-chase-co.html.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Several institutional investors have recently modified their holdings of C. Vantage Financial Partners Ltd. Inc. acquired a new position in Citigroup during the 2nd quarter worth approximately $1,034,000. Catamount Wealth Management acquired a new position in Citigroup during the 2nd quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares in the last quarter. Dubuque Bank & Trust Co. increased its position in Citigroup by 60.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 599 shares in the last quarter. Finally, Balentine LLC increased its position in Citigroup by 20.2% during the 2nd quarter. Balent

Several other brokerages also recently commented on C. Wells Fargo & Company reaffirmed a buy rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a buy rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Raymond James Financial, Inc. reaffirmed an underperform rating on shares of Citigroup in a report on Wednesday, September 27th. Deutsche Bank AG reaffirmed a hold rating and set a $67.00 target price (up previously from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, Atlantic Securities reaffirmed an overweight rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $72.08.

Shares of Citigroup (C) opened at 75.39 on Friday. The company has a market capitalization of $205.40 billion, a PE ratio of 15.09 and a beta of 1.45. The firm’s 50-day moving average is $70.03 and its 200-day moving average is $64.99. Citigroup has a 12-month low of $47.54 and a 12-month high of $76.02.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. Citigroup’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. On average, equities research analysts anticipate that Citigroup will post $5.20 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Citigroup’s (C) Overweight Rating Reaffirmed at J P Morgan Chase & Co” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/citigroups-c-overweight-rating-reaffirmed-at-j-p-morgan-chase-co.html.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Several institutional investors have recently modified their holdings of C. Vantage Financial Partners Ltd. Inc. acquired a new position in Citigroup during the 2nd quarter worth approximately $1,034,000. Catamount Wealth Management acquired a new position in Citigroup during the 2nd quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares in the last quarter. Dubuque Bank & Trust Co. increased its position in Citigroup by 60.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 599 shares in the last quarter. Finally, Balentine LLC increased its position in Citigroup by 20.2% during the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 272 shares in the last quarter. 75.37% of the stock is owned by institutional investors.

About Citigroup

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.

Analyst Recommendations for Citigroup (NYSE:C)

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