Citigroup (NYSE:C) Price Target Cut to $83.00

Citigroup (NYSE:C) had its target price cut by BMO Capital Markets from $87.00 to $83.00 in a report published on Wednesday morning, The Fly reports.

C has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Citigroup from $61.00 to $58.00 and set an overweight rating on the stock in a research report on Tuesday, September 15th. Credit Suisse Group reduced their target price on shares of Citigroup from $75.00 to $65.00 and set an outperform rating on the stock in a research report on Wednesday. Odeon Capital Group lowered shares of Citigroup from a hold rating to a sell rating in a research report on Tuesday, August 18th. Oppenheimer reissued a buy rating and set a $100.00 price target on shares of Citigroup in a research note on Thursday, October 1st. Finally, Societe Generale raised shares of Citigroup from a hold rating to a buy rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $69.40.

NYSE:C opened at $43.19 on Wednesday. The firm has a market cap of $89.92 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.78. Citigroup has a 12 month low of $32.00 and a 12 month high of $83.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. The company’s 50-day moving average price is $46.81 and its two-hundred day moving average price is $48.19.

Citigroup (NYSE:C) last announced its earnings results on Monday, October 19th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.39. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The company had revenue of $17.30 billion for the quarter, compared to analyst estimates of $17.18 billion. During the same period in the prior year, the business earned $1.97 earnings per share. Citigroup’s quarterly revenue was down 6.9% on a year-over-year basis. On average, research analysts expect that Citigroup will post 3.52 EPS for the current fiscal year.

In other Citigroup news, Director Gary M. Reiner sold 485 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $102.74, for a total value of $49,828.90. Following the completion of the sale, the director now owns 4,462 shares of the company’s stock, valued at $458,425.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Hoylecohen LLC increased its position in shares of Citigroup by 0.8% during the second quarter. Hoylecohen LLC now owns 28,207 shares of the financial services provider’s stock worth $1,441,000 after acquiring an additional 210 shares in the last quarter. Washington Trust Bank increased its position in shares of Citigroup by 1.4% during the second quarter. Washington Trust Bank now owns 15,565 shares of the financial services provider’s stock worth $795,000 after acquiring an additional 222 shares in the last quarter. MV Capital Management Inc. increased its position in shares of Citigroup by 12.2% during the second quarter. MV Capital Management Inc. now owns 2,069 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 225 shares in the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in shares of Citigroup by 0.8% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 28,845 shares of the financial services provider’s stock worth $1,474,000 after acquiring an additional 231 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Citigroup by 5.4% during the second quarter. Allworth Financial LP now owns 4,578 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 236 shares in the last quarter. 75.57% of the stock is owned by institutional investors.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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