JPMorgan Chase & Co. Issues Pessimistic Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $85.50 to $75.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 30.17% from the company’s current price.

Several other analysts also recently commented on C. Bank of America reduced their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. StockNews.com lowered Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.23.

Citigroup Trading Down 8.0 %

NYSE C opened at $58.00 on Thursday. The firm has a market capitalization of $109.17 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The business’s 50-day moving average price is $75.61 and its two-hundred day moving average price is $70.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. On average, analysts expect that Citigroup will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last three months. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of Citigroup

A number of large investors have recently made changes to their positions in the stock. True Wealth Design LLC grew its position in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $84,000 after acquiring an additional 119 shares during the period. Continuum Advisory LLC raised its holdings in Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after buying an additional 120 shares during the period. Blake Schutter Theil Wealth Advisors LLC lifted its position in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after buying an additional 135 shares during the last quarter. Hemington Wealth Management boosted its stake in Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after buying an additional 136 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after acquiring an additional 137 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

About Citigroup

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.