Citigroup (C) Cut to “Hold” at Vertical Group

Vertical Group lowered shares of Citigroup (NYSE:C) from a buy rating to a hold rating in a research note released on Wednesday morning.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group restated a buy rating and set a $83.00 price target (up from $73.00) on shares of Citigroup in a report on Monday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded Citigroup from a hold rating to a buy rating in a report on Thursday, September 21st. Wells Fargo & Co reiterated a buy rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank of Canada reiterated a buy rating and issued a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Finally, Nomura increased their target price on Citigroup from $80.00 to $81.00 and gave the stock a buy rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Citigroup has a consensus rating of Buy and an average price target of $79.30.

Citigroup (C) traded up $0.91 during trading on Wednesday, hitting $78.30. The company’s stock had a trading volume of 17,810,829 shares, compared to its average volume of 16,460,000. The company has a market cap of $207,030.00, a PE ratio of -27.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.56. Citigroup has a 52-week low of $55.23 and a 52-week high of $78.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.01 and a quick ratio of 1.01.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. sell-side analysts expect that Citigroup will post 6.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 5th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, February 2nd. Citigroup’s dividend payout ratio (DPR) is presently -44.29%.

A number of large investors have recently modified their holdings of C. Janus Henderson Group PLC lifted its stake in Citigroup by 227.4% during the 3rd quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock valued at $700,395,000 after acquiring an additional 6,688,305 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Citigroup by 109.5% during the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after acquiring an additional 4,856,866 shares in the last quarter. PointState Capital LP bought a new position in Citigroup during the 2nd quarter valued at $321,322,000. Pioneer Investment Management Inc. lifted its stake in Citigroup by 2,317.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after acquiring an additional 4,795,145 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Citigroup by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock valued at $990,836,000 after acquiring an additional 4,413,329 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

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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.

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