Price Change to Note: After Today’s Big Increase, Is Citigroup Inc’s Near-Term Analysis Positive?

Price Change to Note: After Today's Big Increase, Is Citigroup Inc's Near Term Analysis Positive?

The stock of Citigroup Inc (NYSE:C) is a huge mover today! About 16.61 million shares traded hands. Citigroup Inc (NYSE:C) has risen 13.96% since March 1, 2016 and is uptrending. It has outperformed by 4.71% the S&P500.
The move comes after 6 months positive chart setup for the $138.75B company. It was reported on Oct, 4 by Barchart.com. We have $64.27 PT which if reached, will make NYSE:C worth $47.18 billion more.

Analysts await Citigroup Inc (NYSE:C) to report earnings on October, 14. They expect $1.15 earnings per share, down 12.21% or $0.16 from last year’s $1.31 per share. C’s profit will be $3.33B for 10.43 P/E if the $1.15 EPS becomes a reality. After $1.25 actual earnings per share reported by Citigroup Inc for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 28 analysts covering Citigroup Inc. (NYSE:C), 16 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 57% are positive. Citigroup Inc. has been the topic of 55 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, September 28 the stock rating was upgraded by Credit Suisse to “Outperform”. Berenberg initiated Citigroup Inc (NYSE:C) rating on Wednesday, July 13. Berenberg has “Buy” rating and $50 price target. CLSA maintained the stock with “Buy” rating in Friday, September 23 report. On Monday, November 30 the stock rating was upgraded by Guggenheim to “Buy”. The stock has “Neutral” rating given by Goldman Sachs on Friday, September 16. The company was maintained on Friday, January 29 by Oppenheimer. The rating was maintained by Evercore with “Buy” on Monday, September 21. Deutsche Bank maintained Citigroup Inc (NYSE:C) rating on Tuesday, January 26. Deutsche Bank has “Hold” rating and $47 price target. The stock has “Buy” rating given by UBS on Friday, October 16. The rating was upgraded by Citigroup on Friday, December 11 to “Buy”.

According to Zacks Investment Research, “Citigroup Inc. is a global financial services company. It provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. The Company also offers various wholesale banking products and services, including fixed income and equity sales and trading, foreign exchange, prime brokerage, and equity and fixed income research services. Citigroup Inc. is based in New York.”

Insitutional Activity: The institutional sentiment decreased to 0.74 in Q2 2016. Its down 0.06, from 0.8 in 2016Q1. The ratio worsened, as 93 funds sold all Citigroup Inc shares owned while 449 reduced positions. 62 funds bought stakes while 341 increased positions. They now own 2.00 billion shares or 2.42% less from 2.05 billion shares in 2016Q1.
The United Kingdom-based Pictet Asset Mgmt Ltd has invested 0.31% in Citigroup Inc (NYSE:C). Canada Pension Plan Invest Board has 1.15% invested in the company for 6.70 million shares. Rmsincerbeaux Cap Mgmt Lc accumulated 0.86% or 19,803 shares. White Pine Capital Ltd Liability accumulated 16,044 shares or 0.29% of the stock. Gendell Jeffrey L last reported 3.47% of its portfolio in the stock. Golub Grp Ltd Liability has invested 3.37% of its portfolio in Citigroup Inc (NYSE:C). M accumulated 0.24% or 11,038 shares. Steinberg Asset Mngmt last reported 0.12% of its portfolio in the stock. Hollencrest Securities Limited Liability Corporation reported 29,193 shares or 0.19% of all its holdings. Shikiar Asset Mgmt Incorporated has invested 2.27% of its portfolio in Citigroup Inc (NYSE:C). Boston Partners has 18.71M shares for 1.15% of their US portfolio. Castleark Mgmt Limited has 0.01% invested in the company for 8,010 shares. Jacobs Levy Equity Mgmt reported 619,470 shares or 0.54% of all its holdings. Balasa Dinverno Foltz Limited Company accumulated 8,110 shares or 0.06% of the stock. Mariner Wealth Advisors Ltd Llc last reported 0.08% of its portfolio in the stock.

Insider Transactions: Since April 20, 2016, the stock had 0 buys, and 3 insider sales for $798,528 net activity. $360,211 worth of shares were sold by MURRAY JOSEPH MICHAEL on Wednesday, July 20. Another trade for 36 shares valued at $1,649 was made by RODIN JUDITH on Tuesday, May 24. $436,668 worth of shares were sold by Hu W. Bradford on Wednesday, April 20.

C Company Profile

Citigroup Inc. (Citi), incorporated on March 8, 1988, is a financial services holding company. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Firm operates through two divisions: Citicorp and Citi Holdings.

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