The stock of Citigroup Inc (NYSE:C) hit a new 52-week high and has $60.78 target or 9.00% above today’s $55.76 share price. The 9 months bullish chart indicates low risk for the $158.93 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $60.78 price target is reached, the company will be worth $14.30 billion 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 5.63M shares traded hands. Citigroup Inc (NYSE:C) has risen 18.83% since April 20, 2016 and is uptrending. It has outperformed by 14.27% the S&P500.
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. $74 is the highest target while $4.0 is the lowest. The $54.02 average target is -3.12% below today’s ($55.76) stock price. Citigroup Inc. has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Berenberg initiated Citigroup Inc (NYSE:C) on Wednesday, July 13 with “Buy” rating. BMO Capital Markets maintained it with “Market Perform” rating and $7.0 target price in Friday, September 4 report. The stock has “Overweight” rating given by Barclays Capital on Monday, March 14. Oppenheimer maintained it with “Outperform” rating and $66.0 target price in Tuesday, January 19 report. The firm earned “Overweight” rating on Thursday, April 7 by JP Morgan. As per Tuesday, January 5, the company rating was maintained by Oppenheimer. The stock of Citigroup Inc (NYSE:C) has “Hold” rating given on Tuesday, August 25 by Zacks. The firm earned “Hold” rating on Monday, August 24 by Vetr. The rating was initiated by Susquehanna on Tuesday, October 6 with “Neutral”. The firm has “Outperform” rating by Credit Suisse given on Monday, September 28.
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 increased to 0.83 in Q2 2016. Its up 0.09, from 0.74 in 2016Q1. The ratio is positive, 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.
Bell State Bank & reported 5,161 shares or 0.13% of all its holdings. Cornercap Counsel Inc accumulated 1.14% or 140,988 shares. Delta Capital Mgmt Limited Com holds 2.22% of its portfolio in Citigroup Inc (NYSE:C) for 68,171 shares. Dynamic Management Limited accumulated 44,700 shares or 0.22% of the stock. Burt Wealth Advsr, a Maryland-based fund reported 15 shares. Pathstone Family Office Limited Liability Corporation holds 278 shares or 0.01% of its portfolio. Whittier Trust Communications Of Nevada last reported 0.33% of its portfolio in the stock. Hudson Bay Capital Management Ltd Partnership last reported 0.03% of its portfolio in the stock. Moreover, Ci Invests has 6.17% invested in Citigroup Inc (NYSE:C) for 11.95M shares. Evercore Wealth Management Ltd owns 2,705 shares or 0.01% of their US portfolio. Royal Financial Bank Of Scotland Public Limited Company holds 0.19% or 17,551 shares in its portfolio. Ascend Capital Ltd Liability Company, a California-based fund reported 75,000 shares. Pioneer Management holds 0.05% or 322,787 shares in its portfolio. The Washington-based Washington Capital Mgmt Incorporated has invested 2.09% in Citigroup Inc (NYSE:C). Ngam Advisors Lp has 0.36% invested in the company for 606,454 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 1 sale for $360,211 net activity. The insider RODIN JUDITH sold 36 shares worth $1,649. MURRAY JOSEPH MICHAEL had sold 8,122 shares worth $360,211.
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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