Piper Sandler Raises Citigroup (NYSE:C) Price Target to $104.00

Citigroup (NYSE:C) had its price objective lifted by stock analysts at Piper Sandler from $84.00 to $104.00 in a research note issued on Wednesday, July 16th, Marketbeat reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 8.29% from the stock’s current price.

A number of other brokerages have also recently issued reports on C. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. The Goldman Sachs Group upped their price objective on Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. UBS Group reiterated a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.46.

Citigroup Stock Up 0.7%

NYSE C traded up $0.65 during trading hours on Wednesday, hitting $96.04. 13,537,763 shares of the company traded hands, compared to its average volume of 16,283,003. The stock has a market capitalization of $179.37 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.82 and a beta of 1.34. Citigroup has a twelve month low of $53.51 and a twelve month high of $96.90. The business’s 50-day moving average is $82.36 and its 200-day moving average is $76.25. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. Sell-side analysts anticipate that Citigroup will post 7.53 earnings per share for the current year.

Insider Transactions at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction that occurred 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. This trade represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citigroup

Hedge funds have recently added to or reduced their stakes in the stock. NorthRock Partners LLC raised its position in shares of Citigroup by 60.9% in the 2nd quarter. NorthRock Partners LLC now owns 19,837 shares of the company’s stock valued at $1,688,000 after buying an additional 7,506 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Citigroup by 2.7% during the 2nd quarter. Verdence Capital Advisors LLC now owns 10,752 shares of the company’s stock worth $915,000 after acquiring an additional 285 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Citigroup by 5.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 58,062 shares of the company’s stock valued at $4,942,000 after acquiring an additional 3,238 shares during the last quarter. Concord Asset Management LLC VA raised its position in Citigroup by 2.6% during the second quarter. Concord Asset Management LLC VA now owns 12,545 shares of the company’s stock valued at $1,068,000 after purchasing an additional 316 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Citigroup by 3.5% during the second quarter. Sequoia Financial Advisors LLC now owns 247,126 shares of the company’s stock worth $21,035,000 after purchasing an additional 8,337 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

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.