Price Don’t Lie: Citigroup Inc’s Stock Is Buy After Touching 52-Week High

Price Don't Lie: Citigroup Inc's Stock Is Buy After Touching 52 Week High

The stock of Citigroup Inc (NYSE:C) hit a new 52-week high and has $81.21 target or 46.00% above today’s $55.62 share price. The 7 months bullish chart indicates low risk for the $158.36 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $81.21 price target is reached, the company will be worth $72.85B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 16.66M shares traded hands. Citigroup Inc (NYSE:C) has risen 21.62% since April 15, 2016 and is uptrending. It has outperformed by 16.99% the S&P500.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 28 analysts covering Citigroup Inc. (NYSE:C), 17 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 61% are positive. $74 is the highest target while $4.0 is the lowest. The $54.02 average target is -2.88% below today’s ($55.62) stock price. Citigroup Inc. has been the topic of 57 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, January 7 by Portales Partners. The firm has “Buy” rating given on Monday, September 21 by Evercore. CLSA maintained Citigroup Inc (NYSE:C) rating on Friday, September 23. CLSA has “Buy” rating and $63 price target. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 12. The firm has “Buy” rating given on Monday, August 24 by SunTrust. The rating was upgraded by Citigroup to “Buy” on Friday, December 11. Nomura maintained the stock with “Buy” rating in Wednesday, September 7 report. The firm has “Buy” rating by Jefferies given on Monday, October 10. As per Tuesday, January 19, the company rating was maintained by RBC Capital Markets. Oppenheimer maintained Citigroup Inc (NYSE:C) on Tuesday, January 5 with “Perform” rating.

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 2016 Q2. Its down 0.06, from 0.8 in 2016Q1. The ratio is negative, 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.
Clear Harbor Asset Management Lc has 0.13% invested in the company for 14,131 shares. Sector Pension Investment Board has invested 0.26% of its portfolio in Citigroup Inc (NYSE:C). Wolverine Asset Mngmt Limited Company holds 0.05% of its portfolio in Citigroup Inc (NYSE:C) for 70,978 shares. The Illinois-based Trust Department Mb Comml Bank N A has invested 0% in Citigroup Inc (NYSE:C). Css Lc Il, a Illinois-based fund reported 28,601 shares. Gardner Lewis Asset L P has invested 0.03% of its portfolio in Citigroup Inc (NYSE:C). Berkshire Asset Lc Pa holds 175,819 shares or 1.13% of its portfolio. The New York-based Tegean Capital Mgmt Limited Liability has invested 3.87% in Citigroup Inc (NYSE:C). Granite Inv holds 0.03% or 8,120 shares in its portfolio. Raymond James Na accumulated 0.09% or 24,612 shares. Hills Bancorp And Trust Company owns 31,336 shares or 0.49% of their US portfolio. Shelton Cap, a California-based fund reported 69,717 shares. Lba Wealth Mngmt Lc holds 71 shares or 0% of its portfolio. The Switzerland-based Banque Pictet Cie Sa has invested 0.43% in Citigroup Inc (NYSE:C). Stanley has 6,423 shares for 0.11% of their US portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 2 insider sales for $361,860 net activity. RODIN JUDITH sold 36 shares worth $1,649. $360,211 worth of Citigroup Inc (NYSE:C) shares were sold by MURRAY JOSEPH MICHAEL.

More news for Citigroup Inc (NYSE:C) were recently published by: Wsj.com, which released: “Why Citigroup Is Sticking With Mexico” on November 16, 2016. Bloomberg.com‘s article titled: “Citigroup Said to Offer London Canary Wharf Space After Job Cuts” and published on October 21, 2016 is yet another important article.

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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