Citigroup (NYSE:C) Announces Quarterly Earnings Results

Citigroup Inc (NYSE:C) posted its quarterly earnings results on Monday. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17, Briefing.com reports. The business had revenue of $18.76 billion during the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a return on equity of 10.12% and a net margin of 18.24%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share.

Shares of C stock opened at $71.32 on Wednesday. The business’s 50-day moving average price is $68.07. The stock has a market capitalization of $165.83 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $75.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.01 and a current ratio of 1.01.

A number of research analysts recently commented on C shares. BMO Capital Markets upped their price objective on Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, April 15th. JPMorgan Chase & Co. started coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price objective on the stock. HSBC reiterated a “hold” rating on shares of Societe Generale in a report on Thursday, April 4th. UBS Group decreased their price objective on Spotify from $182.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $78.85.

In other news, CEO Stephen Bird sold 30,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its position in Citigroup by 1.9% in the fourth quarter. Northern Trust Corp now owns 32,154,657 shares of the financial services provider’s stock valued at $1,673,972,000 after purchasing an additional 604,791 shares during the period. ValueAct Holdings L.P. lifted its position in Citigroup by 20.2% in the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after purchasing an additional 5,300,000 shares during the period. Geode Capital Management LLC lifted its position in Citigroup by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock valued at $1,561,201,000 after purchasing an additional 1,187,619 shares during the period. Norges Bank acquired a new stake in Citigroup in the fourth quarter valued at about $1,383,526,000. Finally, Dimensional Fund Advisors LP lifted its position in Citigroup by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,392,544 shares of the financial services provider’s stock valued at $905,481,000 after purchasing an additional 239,599 shares during the period. Institutional investors and hedge funds own 75.98% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading: Bollinger Bands

Earnings History for Citigroup (NYSE:C)

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