Todays Report: Today: Citigroup Inc. (C) Lowered by Jefferies Group

Today: Citigroup Inc. (C) Lowered by Jefferies Group

Citigroup Inc. (NYSE:C) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Monday.

C has been the topic of several other research reports. Vetr downgraded shares of Citigroup from a “sell” rating to a “strong sell” rating and set a $48.79 price target on the stock. in a research report on Monday, November 21st. Macquarie downgraded shares of Citigroup from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $55.45 to $57.00 in a research report on Friday, November 18th. Morgan Stanley upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 14th. Compass Point assumed coverage on shares of Citigroup in a research report on Tuesday, October 11th. They set a “sell” rating and a $39.00 price target on the stock. Finally, Argus reiterated a “hold” rating on shares of Citigroup in a research report on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.47.

Citigroup (NYSE:C) opened at 56.78 on Monday. Citigroup has a 52 week low of $34.52 and a 52 week high of $56.83. The firm has a market cap of $161.81 billion, a PE ratio of 12.35 and a beta of 1.74. The stock has a 50 day moving average of $51.14 and a 200 day moving average of $46.59.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The firm had revenue of $17.80 billion for the quarter, compared to analyst estimates of $17.32 billion. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. Analysts anticipate that Citigroup will post $4.70 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, November 3rd. Citigroup’s payout ratio is 13.91%.

Several hedge funds have recently made changes to their positions in the stock. Gemmer Asset Management LLC raised its stake in shares of Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock worth $106,000 after buying an additional 69 shares during the last quarter. City Holding Co. raised its position in Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock worth $109,000 after buying an additional 485 shares in the last quarter. Patten Group Inc. raised its position in Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock worth $118,000 after buying an additional 265 shares in the last quarter. Enterprise Financial Services Corp raised its position in Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock worth $116,000 after buying an additional 753 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its position in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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