Citigroup (NYSE:C) Price Target Raised to $96.00

Citigroup (NYSE:C) had its price target lifted by The Goldman Sachs Group from $85.00 to $96.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 8.27% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Evercore ISI upped their price objective on shares of Citigroup from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $85.43.

Citigroup Stock Up 2.2%

C stock opened at $88.67 on Wednesday. Citigroup has a 52-week low of $53.51 and a 52-week high of $88.80. The company’s 50 day simple moving average is $76.22 and its 200-day simple moving average is $74.04. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $165.61 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.67 and a beta of 1.34.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. As a group, equities research analysts anticipate that Citigroup will post 7.53 EPS for the current year.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director owned 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citigroup

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC grew its stake in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after buying an additional 667,357 shares during the last quarter. FMR LLC grew its stake in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the period. Finally, Capital World Investors lifted its position in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.