Wells Fargo Downgrades Citigroup Inc to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on Citigroup Inc(NYSE:C). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Wells Fargo was issued on Jul 8, 2016.

In a different note, On Apr 18, 2016, Keefe Bruyette & Woods said it Downgrades its rating on Citigroup Inc. The shares have been rated ‘Market Perform’ by the firm.

Citigroup Inc (C) shares turned negative on Wednesdays trading session with the shares closing down -0.11 points or -0.25% at a volume of 2,04,88,172. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.68. The peak price level was also seen at $43.68 while the days lowest was $43.02. Finally the shares closed at $43.33. The 52-week high of the shares is $60.95 while the 52-week low is $34.52. According to the latest information available, the market cap of the company is $127,170 M.

Citigroup Inc(C) last announced its earnings results on Apr 15, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $17.55B. Analysts had an estimated revenue of $17.46B. Earnings per share were $1.10. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Judith Rodin (director) sold 36 shares at $45.80 per share price.Also, On Apr 21, 2016, W. Bradford Hu (CHIEF RISK OFFICER) sold 9,528 shares at $45.83 per share price.On Feb 12, 2016, William Mills (CEO) purchased 1,000 shares at $912.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Citigroup Inc. (Citi) is a financial services holding company whose businesses provide consumers corporations governments and institutions with financial products and services including consumer banking and credit corporate and investment banking securities brokerage trade and securities services and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking which consists of consumer banking in North America EMEA Latin America and Asia and Institutional Clients Group which includes Banking and Markets and securities services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. Citi’s consumer operations as well as the consumer finance business in Korea and certain businesses in ICG form part of Citi Holdings.

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