ValuEngine Lowers Citigroup (NYSE:C) to Sell

Citigroup (NYSE:C) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

Several other research analysts also recently issued reports on the stock. Barclays upped their target price on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley set a $78.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 9th. UBS Group increased their price objective on shares of Citigroup from $87.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $79.75.

NYSE:C traded up $2.07 during mid-day trading on Monday, hitting $71.81. 13,105,185 shares of the company’s stock were exchanged, compared to its average volume of 14,607,736. Citigroup has a one year low of $48.42 and a one year high of $73.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.00 and a quick ratio of 1.01. The business has a fifty day moving average price of $68.59 and a 200 day moving average price of $67.72. The company has a market cap of $157.23 billion, a PE ratio of 10.80, a P/E/G ratio of 0.79 and a beta of 1.80.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.95 by $0.12. The business had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.54 billion. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. Citigroup’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, equities analysts forecast that Citigroup will post 7.55 EPS for the current fiscal year.

In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of C. Nuveen Asset Management LLC grew its stake in Citigroup by 1,638.7% during the second quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock valued at $1,611,674,000 after acquiring an additional 21,690,409 shares in the last quarter. Invesco Ltd. grew its stake in Citigroup by 27.8% during the second quarter. Invesco Ltd. now owns 48,104,326 shares of the financial services provider’s stock valued at $3,368,746,000 after acquiring an additional 10,457,813 shares in the last quarter. APG Asset Management N.V. grew its stake in Citigroup by 81.7% during the second quarter. APG Asset Management N.V. now owns 9,426,403 shares of the financial services provider’s stock valued at $579,672,000 after acquiring an additional 4,238,700 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Citigroup by 29.4% during the second quarter. UBS Asset Management Americas Inc. now owns 10,228,198 shares of the financial services provider’s stock valued at $716,281,000 after acquiring an additional 2,322,201 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its stake in Citigroup by 287.1% during the second quarter. Balyasny Asset Management LLC now owns 2,585,216 shares of the financial services provider’s stock valued at $181,043,000 after acquiring an additional 1,917,339 shares in the last quarter. 76.69% of the stock is owned by institutional investors.

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).

See Also: New Google Finance Tool and Screening Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.