Citigroup (C) Earns Outperform Rating from Royal Bank of Canada
Royal Bank of Canada restated their outperform rating on shares of Citigroup (NYSE:C) in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage currently has a $85.00 price objective on the financial services provider’s stock.
A number of other research firms have also issued reports on C. Keefe, Bruyette & Woods lowered shares of Citigroup from an outperform rating to a market perform rating and dropped their target price for the stock from $90.00 to $82.00 in a report on Tuesday, January 16th. Jefferies Group reissued a hold rating and set a $83.00 price target on shares of Citigroup in a research report on Tuesday, January 16th. Deutsche Bank set a $74.00 price target on shares of Citigroup and gave the company a neutral rating in a research report on Wednesday. Wells Fargo & Co set a $100.00 price target on shares of Citigroup and gave the company a buy rating in a research report on Wednesday. Finally, Vetr raised shares of Citigroup from a hold rating to a buy rating and set a $80.92 price target on the stock in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $79.30.
Citigroup (NYSE C) traded up $0.91 during trading on Wednesday, hitting $78.30. 17,728,961 shares of the stock were exchanged, compared to its average volume of 12,630,125. Citigroup has a fifty-two week low of $55.23 and a fifty-two week high of $78.44. The stock has a market capitalization of $201,231.02, a price-to-earnings ratio of -25.26, a price-to-earnings-growth ratio of 1.49 and a beta of 1.56. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.01 and a quick ratio of 1.01.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 5th will be given a $0.32 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.63%. Citigroup’s payout ratio is currently -41.29%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in Citigroup by 3.8% in the second quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after buying an additional 4,061,637 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Citigroup by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the financial services provider’s stock worth $3,083,874,000 after purchasing an additional 2,943,282 shares during the period. Harris Associates L P increased its stake in Citigroup by 0.5% during the second quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock worth $2,765,551,000 after purchasing an additional 221,171 shares during the period. Northern Trust Corp increased its stake in Citigroup by 3.1% during the second quarter. Northern Trust Corp now owns 34,097,795 shares of the financial services provider’s stock worth $2,280,461,000 after purchasing an additional 1,011,532 shares during the period. Finally, Boston Partners increased its stake in Citigroup by 3.4% during the third quarter. Boston Partners now owns 24,591,045 shares of the financial services provider’s stock worth $1,788,752,000 after purchasing an additional 817,162 shares during the period. 78.53% of the stock is currently owned by institutional investors.
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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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