Price Change to Note: Could Citigroup Inc Lose its Strength? The Stock Reaches 52-Week High

Price Change to Note: Could Citigroup Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of Citigroup Inc (NYSE:C) hit a new 52-week high and has $60.80 target or 7.00% above today’s $56.82 share price. The 8 months bullish chart indicates low risk for the $164.46 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $60.80 price target is reached, the company will be worth $11.51B 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 17.77M shares traded hands. Citigroup Inc (NYSE:C) has risen 20.67% since April 28, 2016 and is uptrending. It has outperformed by 14.75% the S&P500.

Analysts await Citigroup Inc (NYSE:C) to report earnings on January, 18 before the open. They expect $1.09 earnings per share, up 2.83% or $0.03 from last year’s $1.06 per share. C’s profit will be $3.15 billion for 13.03 P/E if the $1.09 EPS becomes a reality. After $1.25 actual earnings per share reported by Citigroup Inc for the previous quarter, Wall Street now forecasts -12.80% negative EPS growth.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 28 analysts covering Citigroup Inc. (NYSE:C), 15 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 54% are positive. Citigroup Inc. has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, August 28, the company rating was upgraded by Guggenheim. The stock of Citigroup Inc (NYSE:C) earned “Buy” rating by Jefferies on Monday, October 10. Berenberg initiated the stock with “Buy” rating in Wednesday, July 13 report. The stock of Citigroup Inc (NYSE:C) earned “Neutral” rating by Credit Suisse on Monday, December 21. The stock of Citigroup Inc (NYSE:C) has “Perform” rating given on Tuesday, January 5 by Oppenheimer. On Tuesday, January 19 the stock rating was maintained by Oppenheimer with “Outperform”. Zacks downgraded the stock to “Buy” rating in Friday, August 14 report. The rating was maintained by Keefe Bruyette & Woods on Tuesday, January 19 with “Outperform”. Deutsche Bank maintained it with “Hold” rating and $60 target price in Wednesday, August 12 report. The rating was maintained by Macquarie Research on Monday, October 19 with “Outperform”.

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 2016 Q2. 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.
Basswood Cap Mngmt Ltd Com holds 0.47% of its portfolio in Citigroup Inc (NYSE:C) for 193,061 shares. Commercial Bank Of Nova Scotia, a Ontario – Canada-based fund reported 58,928 shares. Robeco Institutional Asset Management Bv has 0.95% invested in the company for 2.94 million shares. Hexavest owns 2.03M shares or 1.3% of their US portfolio. New Mexico Educational Retirement Board, a New Mexico-based fund reported 342,026 shares. Moreover, Parallax Volatility Advisers Ltd Partnership has 0.06% invested in Citigroup Inc (NYSE:C) for 667,215 shares. Nomura Holdg Inc, a Japan-based fund reported 1.14 million shares. The North Carolina-based Triangle Secs Wealth Management has invested 0.52% in Citigroup Inc (NYSE:C). Shikiar Asset reported 120,239 shares or 2.27% of all its holdings. Aperio Gru Inc Limited Liability Corp has invested 0.32% of its portfolio in Citigroup Inc (NYSE:C). Metropolitan Life holds 0.49% or 1.53 million shares in its portfolio. Whittier Company has invested 0.34% of its portfolio in Citigroup Inc (NYSE:C). Psagot Invest House Ltd has 121,146 shares for 0.22% of their US portfolio. Citigroup Inc reported 356,883 shares or 0.02% of all its holdings. Evercore Wealth Mgmt Limited Company accumulated 2,705 shares or 0.01% of the stock.

Insider Transactions: Since July 20, 2016, the stock had 0 insider purchases, and 1 sale for $360,211 net activity. 8,122 Citigroup Inc (NYSE:C) shares with value of $360,211 were sold by MURRAY JOSEPH MICHAEL.

More news for Citigroup Inc (NYSE:C) were recently published by: Bloomberg.com, which released: “Citigroup ‘Glorified Secretary’ Fired After Accusing Boss” on November 29, 2016. Fortune.com‘s article titled: “An Ex-Employee Is Suing Citigroup for Running a ‘Boys Club'” and published on November 29, 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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