Citigroup (NYSE:C) Cut to “Sell” at Wall Street Zen

Citigroup (NYSE:C) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

C has been the topic of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group decreased their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. TD Cowen initiated coverage on shares of Citigroup in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Cowen assumed coverage on Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.97.

Citigroup Trading Down 0.4%

NYSE:C opened at $73.09 on Friday. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $136.52 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.64 and a beta of 1.30. The firm has a fifty day simple moving average of $68.68 and a two-hundred day simple moving average of $72.24.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Analysts expect that Citigroup will post 7.53 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $84,000 after buying an additional 119 shares during the period. Continuum Advisory LLC lifted its position in shares of Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock worth $459,000 after acquiring an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in shares of Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after acquiring an additional 135 shares during the period. Hemington Wealth Management grew its position in shares of Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.