Sunday, 22 July, 2018

Citigroup Gains on Higher Revenues

Citigroup To Acquire Wachovia Banking Operations Citi beat analyst expectations
Orlando Vargas | 14 April, 2018, 09:36

Citigroup Inc. (C) is intriguing when broken down to its core data. The firm owned 879,767 shares of the financial services provider's stock after selling 180,652 shares during the period.

Wall Street giant Citigroup has topped expectations in its first quarter results.

Picton Mahoney Asset Management, which manages about $3.73B US Long portfolio, decreased its stake in Logmein Inc (NASDAQ:LOGM) by 99,200 shares to 6,100 shares, valued at $699,000 in 2017Q4, according to the filing. For shareholders, given the total diluted outstanding shares of 2.61 billion, this means overall earnings per share of -7.15. Piedmont Investment Advisors Llc bought 4,257 shares as the company's stock declined 9.68% with the market. Balentine LLC raised its position in Citigroup by 20.2% in the 2nd quarter. Lee Financial Co now owns 2,240 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 813 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Citigroup by 50.0% in the fourth quarter.

Other hedge funds also recently made changes to their positions in the company.

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Shares of Citigroup Inc. (NYSE:C) rating. Oppenheimer has "Buy" rating and $8500 target. Using 200 days moving average method, traders can get some unique idea about online trading. The stock has a market capitalization of $159.77 billion, a price-to-earnings ratio of 12.21 and a beta of 1.68. That's a more than 24% increase from past year. However, consensus estimates call for $1.60 in EPS on $18.64 billion in revenue for the current quarter. The firm earned $17 billion during the quarter, compared to the consensus estimate of $17.26 billion. Return on Equity (ROE) stands at -4% and Return on Investment (ROI) of 7.6 percent.

During the quarter, revenues increased 3% from the prior-year period, driven by growth in both the Institutional Clients Group (ICG) and Global Consumer Banking (GCB), partially offset by lower revenues in Corporate/Other, primarily due to the continued wind-down of legacy assets. The stock decreased 1.40% or $1.01 during the last trading session, reaching $71.12.

Equities: Citi has seen equities revenues and market share improve in the past two years, and CFO John Gerspach said at an investor conference last month that the business had a shot at hitting $1 billion in revenue in the first quarter, which would be its first time surpassing that threshold since 2015. That represents a quarterly year/year change in revenues of 0.09 in sequential terms, the C saw sales decline by -0.00. The ex-dividend date is Thursday, February 2nd. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01. Wells Fargo set a $100.00 price objective on shares of Citigroup and gave the company a "buy" rating in a research note on Wednesday, January 17th. UBS raised Citigroup from a "neutral" rating to a "buy" rating and upped their target price for the company from $78.00 to $80.00 in a research report on Thursday, April 5th. Finally, Vetr cut Citigroup from a "sell" rating to a "strong sell" rating and set a $61.20 price target for the company.in a research note on Monday, February 5th. Citigroup now has an average rating of "Hold" and a consensus price target of $80.88. (NYSE:C), 22 have Buy rating, 2 Sell and 16 Hold. (NYSE:C) rating. Keefe Bruyette & Woods has "Buy" rating and $90.0 target. The insider Hu W. Bradford sold 8,010 shs worth $611,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Citigroup Inc., a diversified financial services holding company, provides various financial services and products for consumers, firms, governments, and institutions worldwide.The firm is worth $184.68 billion. It dropped, as 58 investors sold C shares while 480 reduced holdings.

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