Citigroup Inc [NYSE: C] loss -0.36% or -0.21 points to close at $57.51 with a heavy trading volume of 13002252 shares. The company report on February 28, 2024 at 4:15 PM that Citigroup Announces Full Redemption of Series J Preferred Stock.
Citigroup Inc. is redeeming, in whole, the remaining 22,000 shares outstanding of its 7.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series J (ticker “C Pr J”) (the “Preferred Stock”) and the corresponding Series J Depositary Shares representing interests in the Preferred Stock, equivalent to $550 million aggregate liquidation preference. 16,000 shares of the Preferred Stock and the related Depositary Shares, equivalent to $400 million aggregate liquidation preference, were previously redeemed on December 29, 2023.
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The redemption date for the Preferred Stock and related Depositary Shares is March 29, 2024 (the “Redemption Date”). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $25. Holders of record on March 19, 2024, will receive the previously declared regular quarterly dividend of $0.6098105903 per Depositary Share payable on the Redemption Date.
The daily chart for C points out that the company has recorded 41.20% gains over the past six months.
If we look at the average trading volume of 18.28M shares, C reached to a volume of 13002252 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Citigroup Inc [C]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for C shares is $61.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on C stock is a recommendation set at 2.08. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Citigroup Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 14, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $46 to $65. The new note on the price target was released on January 30, 2024, representing the official price target for Citigroup Inc stock. Previously, the target price had yet another raise to $57, while BMO Capital Markets analysts kept a Market Perform rating on C stock. On January 09, 2024, analysts increased their price target for C shares from 42 to 61.
The Average True Range (ATR) for Citigroup Inc is set at 1.17, with the Price to Sales ratio for C stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 0.58.
Trading performance analysis for C stock
Citigroup Inc [C] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.44. With this latest performance, C shares gained by 5.45% in over the last four-week period, additionally plugging by 41.20% over the last 6 months – not to mention a rise of 13.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for C stock in for the last two-week period is set at 66.97, with the RSI for the last a single of trading hit 70.88, and the three-weeks RSI is set at 65.23 for Citigroup Inc [C]. The present Moving Average for the last 50 days of trading for this stock 54.26, while it was recorded at 56.98 for the last single week of trading, and 46.86 for the last 200 days.
Citigroup Inc [C]: A deeper dive into fundamental analysis
Citigroup Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.49.
Citigroup Inc [C]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Citigroup Inc posted 2.19/share EPS, while the average EPS was predicted by analysts to be reported at 1.67/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for C. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Citigroup Inc go to 1.20%.
An analysis of Institutional ownership at Citigroup Inc [C]
The top three institutional holders of C stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in C stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in C stock with ownership which is approximately 5.8325%.
