Citigroup Inc (NYSE:C) posted its earnings results on Monday. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09, MarketWatch Earnings reports. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The company had revenue of $18.58 billion for the quarter, compared to the consensus estimate of $18.56 billion. During the same quarter in the prior year, the company earned $1.68 earnings per share. Citigroup’s revenue was down 1.6% on a year-over-year basis.
NYSE C opened at $69.31 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.99 and a current ratio of 1.01. Citigroup Inc has a 52 week low of $48.42 and a 52 week high of $75.24. The stock has a market capitalization of $173.17 billion, a PE ratio of 10.42, a P/E/G ratio of 0.80 and a beta of 1.67.
In related news, insider W. Bradford Hu sold 5,420 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $64.27, for a total transaction of $348,343.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Whitaker sold 7,000 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $63.24, for a total value of $442,680.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Citigroup by 96,369.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock valued at $2,982,839,000 after buying an additional 41,535,375 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Citigroup by 5,064.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock valued at $769,000 after buying an additional 39,262,981 shares in the last quarter. Northern Trust Corp grew its holdings in Citigroup by 1.9% during the 4th quarter. Northern Trust Corp now owns 32,154,657 shares of the financial services provider’s stock valued at $1,673,972,000 after buying an additional 604,791 shares in the last quarter. ValueAct Holdings L.P. grew its holdings in Citigroup by 20.2% during the 4th quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after buying an additional 5,300,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Citigroup by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock valued at $1,561,201,000 after buying an additional 1,187,619 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.
A number of research firms have weighed in on C. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group increased their target price on Citigroup from $78.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised their price objective on Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday. BMO Capital Markets raised their price objective on Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, HSBC set a $76.00 price objective on Citigroup and gave the stock a “buy” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $80.61.
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Citigroup Company Profile
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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