Stifel Nicolaus Reiterates Hold Rating for Citigroup Inc. (C)

Citigroup Inc. (NYSE:C)‘s stock had its “hold” rating reiterated by stock analysts at Stifel Nicolaus in a research note issued on Monday.

Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $68.00 price objective (up previously from $64.00) on shares of Citigroup in a research report on Tuesday, June 13th. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price objective on the stock. in a research report on Monday, June 12th. Buckingham Research reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Citigroup in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Citigroup in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $72.08.

Shares of Citigroup (NYSE:C) opened at 75.18 on Monday. The stock’s 50 day moving average is $70.29 and its 200-day moving average is $65.12. The stock has a market cap of $204.83 billion, a PE ratio of 15.05 and a beta of 1.45. Citigroup has a 12-month low of $47.54 and a 12-month high of $76.02.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts expect that Citigroup will post $5.20 EPS for the current year.

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

A number of large investors have recently bought and sold shares of C. Waldron LP raised its position in Citigroup by 21.2% during the first quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 1,276 shares during the period. Grisanti Capital Management LLC raised its position in Citigroup by 76.5% during the first quarter. Grisanti Capital Management LLC now owns 251,712 shares of the financial services provider’s stock worth $15,057,000 after acquiring an additional 109,112 shares during the period. Daiwa Securities Group Inc. raised its position in Citigroup by 163.8% during the first quarter. Daiwa Securities Group Inc. now owns 383,023 shares of the financial services provider’s stock worth $22,913,000 after acquiring an additional 237,820 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Citigroup by 3.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 48,470 shares of the financial services provider’s stock worth $2,899,000 after acquiring an additional 1,400 shares during the period. Finally, Girard Partners LTD. raised its position in Citigroup by 77.1% during the first quarter. Girard Partners LTD. now owns 6,135 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 2,671 shares during the period. Institutional investors own 75.37% of the company’s stock.

About Citigroup

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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