Goldman Sachs Downgrades Citigroup Inc to Neutral with Price Target $50.00

Brokerage firm Goldman Sachs Downgrades its rating on Citigroup Inc(NYSE:C). In a research note issued to the investors, the brokerage major Lowers the price-target to $50.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Sep 16, 2016.

In a different note, On Sep 7, 2016, Nomura said it Maintains its rating on Citigroup Inc. In the research note, the firm Lowers the price-target to $57.00 per share. The shares have been rated ‘Buy’ by the firm. Berenberg said it Initiates Coverage on Citigroup Inc, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 8, 2016, Wells Fargo said it Downgrades its rating on Citigroup Inc. The shares have been rated ‘Market Perform’ by the firm.

Citigroup Inc (C) made into the market gainers list on Thursdays trading session with the shares advancing 0.45% or 0.21 points. Due to strong positive momentum, the stock ended at $47.11, which is also near the day’s high of $47.3. The stock began the session at $46.99 and the volume stood at 1,62,47,609 shares. The 52-week high of the shares is $56.46 and the 52 week low is $34.52. The company has a current market capitalization of $136,872 M and it has 2,90,53,74,000 shares in outstanding.

Citigroup Inc(C) last announced its earnings results on Jul 15, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $17.55B. Analysts had an estimated revenue of $17.77B. Earnings per share were $1.24. Analysts had estimated an EPS of $1.15.

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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