Citigroup (C) Lowered to “Buy” at Daiwa Capital Markets

Daiwa Capital Markets lowered shares of Citigroup (NYSE:C) from a strong-buy rating to a buy rating in a research report released on Thursday.

A number of other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Citigroup from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Morgan Stanley decreased their price target on shares of Citigroup from $93.00 to $88.00 and set an overweight rating on the stock in a research report on Monday, April 30th. Vining Sparks reiterated a buy rating and issued a $82.00 price target on shares of Citigroup in a research report on Monday, April 16th. BMO Capital Markets reiterated a hold rating and issued a $76.00 price target on shares of Citigroup in a research report on Friday, April 13th. Finally, HSBC upgraded shares of Citigroup from a hold rating to a buy rating and increased their price target for the stock from $82.00 to $85.00 in a research report on Wednesday, April 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $80.92.

Shares of Citigroup stock opened at $69.96 on Thursday. The company has a market cap of $179.80 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.01 and a beta of 1.55. Citigroup has a twelve month low of $59.87 and a twelve month high of $80.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.07. The company had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.89 billion. Citigroup had a negative net margin of 6.28% and a positive return on equity of 8.13%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 earnings per share. research analysts anticipate that Citigroup will post 6.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Monday, May 7th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.28 annualized dividend and a dividend yield of 1.83%. Citigroup’s payout ratio is 24.02%.

In other news, CFO John C. Gerspach sold 12,966 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $72.31, for a total transaction of $937,571.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Linscomb & Williams Inc. grew its stake in Citigroup by 8.0% during the fourth quarter. Linscomb & Williams Inc. now owns 8,787 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 654 shares in the last quarter. Pillar Pacific Capital Management LLC grew its stake in shares of Citigroup by 0.6% in the 4th quarter. Pillar Pacific Capital Management LLC now owns 119,037 shares of the financial services provider’s stock worth $8,857,000 after buying an additional 660 shares in the last quarter. Logan Capital Management Inc. grew its stake in shares of Citigroup by 20.0% in the 4th quarter. Logan Capital Management Inc. now owns 4,124 shares of the financial services provider’s stock worth $307,000 after buying an additional 687 shares in the last quarter. Elgethun Capital Management grew its stake in shares of Citigroup by 2.7% in the 1st quarter. Elgethun Capital Management now owns 26,857 shares of the financial services provider’s stock worth $1,813,000 after buying an additional 694 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of Citigroup by 0.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 76,983 shares of the financial services provider’s stock worth $5,600,000 after buying an additional 716 shares in the last quarter. 76.78% 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. 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.

Analyst Recommendations for Citigroup (NYSE:C)

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