Citigroup’s (C) “Buy” Rating Reiterated at Vining Sparks

Citigroup (NYSE:C)‘s stock had its “buy” rating reaffirmed by Vining Sparks in a research note issued on Tuesday. They currently have a $77.00 target price on the financial services provider’s stock. Vining Sparks’ price target would suggest a potential upside of 6.84% from the stock’s current price.

A number of other brokerages have also recently commented on C. Wolfe Research assumed coverage on Citigroup in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Deutsche Bank upped their price target on Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. ValuEngine raised Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Wells Fargo & Co set a $100.00 price target on Citigroup and gave the company a “buy” rating in a research report on Monday, August 27th. Finally, TheStreet raised Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $82.25.

C stock traded down $0.52 during midday trading on Tuesday, hitting $72.07. The company’s stock had a trading volume of 563,444 shares, compared to its average volume of 16,205,960. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. Citigroup has a 1 year low of $64.38 and a 1 year high of $80.70. The stock has a market cap of $184.38 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.97 and a beta of 1.46.

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

In related news, insider Raja Akram sold 500 shares of the stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total value of $1,085,400.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in C. We Are One Seven LLC purchased a new position in shares of Citigroup in the 3rd quarter valued at approximately $1,060,000. Douglas Lane & Associates LLC lifted its stake in shares of Citigroup by 21.1% in the 3rd quarter. Douglas Lane & Associates LLC now owns 361,287 shares of the financial services provider’s stock valued at $25,919,000 after purchasing an additional 62,845 shares during the period. One Capital Management LLC lifted its stake in shares of Citigroup by 4.4% in the 3rd quarter. One Capital Management LLC now owns 40,085 shares of the financial services provider’s stock valued at $2,876,000 after purchasing an additional 1,691 shares during the period. Optimum Investment Advisors lifted its stake in shares of Citigroup by 8.7% in the 3rd quarter. Optimum Investment Advisors now owns 10,573 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 850 shares during the period. Finally, Triangle Securities Wealth Management lifted its stake in shares of Citigroup by 5.9% in the 3rd quarter. Triangle Securities Wealth Management now owns 24,781 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 1,372 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

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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