Citigroup (NYSE:C) Downgraded to Sell Rating by Wall Street Zen

Citigroup (NYSE:C - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on C. Piper Sandler reiterated an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Morgan Stanley lifted their price target on shares of Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America lifted their price target on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. TD Cowen initiated coverage on Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Finally, Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $84.03.

Citigroup Stock Up 0.0%

C traded up $0.04 during mid-day trading on Friday, reaching $84.41. 21,831,230 shares of the stock were exchanged, compared to its average volume of 14,593,633. Citigroup has a 1 year low of $53.51 and a 1 year high of $84.79. The company has a 50 day moving average price of $74.53 and a two-hundred day moving average price of $73.62. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $157.66 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. As a group, research analysts anticipate that Citigroup will post 7.53 EPS for the current year.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.08% of the company's stock.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in C. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Citigroup in the first quarter worth about $5,270,000. Swedbank AB increased its holdings in Citigroup by 14.1% in the 1st quarter. Swedbank AB now owns 9,499,762 shares of the company's stock worth $674,388,000 after acquiring an additional 1,173,017 shares in the last quarter. First Hawaiian Bank increased its holdings in Citigroup by 6.6% in the 1st quarter. First Hawaiian Bank now owns 20,932 shares of the company's stock worth $1,486,000 after acquiring an additional 1,302 shares in the last quarter. Hodges Capital Management Inc. raised its stake in Citigroup by 747.0% during the 1st quarter. Hodges Capital Management Inc. now owns 61,170 shares of the company's stock worth $4,342,000 after acquiring an additional 53,948 shares during the period. Finally, Modern Wealth Management LLC lifted its holdings in Citigroup by 9.0% during the first quarter. Modern Wealth Management LLC now owns 28,315 shares of the company's stock valued at $2,010,000 after purchasing an additional 2,330 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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