Citigroup Inc. (NYSE:C) Insider Transactions Are in the Air

Citigroup Inc. (NYSE:C) registered a -1.70% decrease, still its new closing price is 67.58% up from the company’s 1 year high of 61.63.It posted -4.72% losses in previous 5 sessions and is now the subject of 8 analysts who together assign a hold rating on stock. 1 of Wall Street analysts have an underperform rating; the 2 sells versus 9 buy or better ratings. The 31 stock analysts following this company have an average price target at $64.14, with individual PT in the $39.00-$80.00 range. The shares moved at $57.39, implying that brokerage firms see shares gaining about 38.10% in twelve months time.

Citigroup Inc. (C) SEC Form 4 News

The stock is getting much attention these days as insiders are offloading shares while they posted a -3.43% fall year to date. A Head of Human Resources at Citigroup Inc. (C) offloaded shares in a transaction closed on Wednesday July 20, 2016. MURRAY JOSEPH MICHAEL sold 8,122 shares in the company at $44.35 each and collected $360,000 in proceeds. MURRAY JOSEPH MICHAEL now owns 35,042 shares in the company after this transaction. A Director in the company, RODIN JUDITH, disclosed a transaction on Tuesday May 24, 2016 that ended up generating $1,001 from the sale of 36 shares at $45.8 per share.

Citigroup Inc. (NYSE:C) Upcoming Results on Tap

Citigroup Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $1.33 in that period. Sales during the quarter are predicted to arrive at $18.26 billion.

Earnings surprise history: Last quarter, the company posted approximately $17.76 billion in revenue and EPS of $1.24. The mean forecast was for $17.39 billion and $1.16 a share, respectively. One quarter earlier, revenue for the stock was at $17.55 billion, with earnings at $1.24/share.

Citigroup Inc. (C) Brokerage Update

Citigroup Inc. (C) is in Standpoint Research’s research list so their analyst rating change is noteworthy. These shares were downgraded to Hold from Buy by Standpoint Research, according to news reported on Tuesday January 10, 2017.Another important research note was issued by Jefferies on Monday November 28, 2016.The firm downgraded C to Hold from Buy. Over the last six months and over the last three months, the shares of Citigroup Inc. (C), have changed 30.30% and 18.48%, respectively.

Citigroup Inc. (NYSE:C) on January 18, 2017 reported net income for the fourth quarter 2016 of $3.6 billion, or $1.14 per diluted share, on revenues of $17.0 billion. This compared to net income of $3.3 billion, or $1.02 per diluted share, on revenues of $18.5 billion for the fourth quarter 2015.

Fourth quarter 2015 included CVA/DVA of negative $181 million (negative $114 million after-tax). Excluding CVA/DVA, revenues decreased 9% from the prior year period, driven by the continued wind down of Citi Holdings, partially offset by a 6% increase in Citicorp revenues. Net income of $3.6 billion increased 4%, driven by a 25% increase in Citicorp net income. Earnings per share of $1.14 increased 8% from $1.06 per diluted share in the prior year period, driven by the growth in net income and a 5% reduction in average diluted shares outstanding.

Citigroup full year 2016 net income was $14.9 billion on revenues of $69.9 billion, compared to net income of $17.2 billion on revenues of $76.4 billion for the full year 2015. Full year 2015 results included CVA/DVA of $254 million ($162 million after-tax). Excluding CVA/DVA, Citigroup revenues decreased 8% and net income decreased 13% compared to the prior year. Citicorp revenues decreased 2% and net income decreased 11% compared to the prior year.

Citigroup

Citigroup revenues of $17.0 billion in the fourth quarter 2016 decreased 9%, driven by the absence of net gains on asset sales in Citi Holdings, partially offset by a 6% increase in Citicorp revenues. Excluding the impact of foreign exchange translation⁶, Citigroup revenues decreased 7%, driven by a 79% decrease in Citi Holdings, partially offset by an 8% increase in Citicorp.

Citigroup’s net income increased to $3.6 billion in the fourth quarter 2016, primarily driven by the lower operating expenses and cost of credit, partially offset by lower revenues. Citigroup’s effective tax rate was 30% in the current quarter compared to 29% in the fourth quarter 2015.

Citigroup’s operating expenses decreased 9% to $10.1 billion in the fourth quarter 2016. In constant dollars, operating expenses fell 6%, mainly driven by lower expenses in Citi Holdings largely due to divestitures.

Citigroup’s cost of credit in the fourth quarter 2016 was $1.8 billion, a 29% decrease, driven by the absence of significant loan loss reserve builds related to energy exposures in Institutional Clients Group (ICG) as well as lower provision for benefits and claims and a decline in net credit losses.

Citigroup’s allowance for loan losses was $12.1 billion at quarter end, or 1.94% of total loans, compared to $12.6 billion, or 2.06% of total loans, at the end of the prior year period. Total non-accrual assets grew 6% from the prior year period to $5.8 billion. Consumer non-accrual loans declined 14% to $3.2 billion. Corporate non-accrual loans increased 52% to $2.4 billion, primarily related to energy-related loans in ICG, but were unchanged from the prior quarter.

Citigroup’s loans were $624 billion as of quarter end, up 1% from the prior year period, and 3% in constant dollars. In constant dollars, 6% growth in Citicorp loans was partially offset by continued declines in Citi Holdings, driven primarily by continued reductions in the North America mortgage portfolio.

Citigroup’s deposits were $929 billion as of quarter end, up 2%, and up 4% in constant dollars. In constant dollars, Citicorp deposits increased 5%, driven by a 6% increase in ICG deposits and a 3% increase in Global Consumer Banking (GCB) deposits.