Citigroup (NYSE:C) Price Target Raised to $70.00

Citigroup (NYSE:C) had its target price hoisted by stock analysts at Piper Sandler from $67.00 to $70.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 22.85% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Oppenheimer lowered their price objective on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Monday. Jefferies Financial Group upped their price target on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Daiwa Capital Markets raised Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, December 18th. Finally, Keefe, Bruyette & Woods upped their price target on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Stock Performance

NYSE C opened at $56.98 on Monday. The stock’s fifty day moving average is $58.04 and its two-hundred day moving average is $50.93. The firm has a market capitalization of $109.13 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $63.90.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, research analysts anticipate that Citigroup will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On Citigroup

Several large investors have recently bought and sold shares of the stock. Snider Financial Group increased its holdings in shares of Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares during the last quarter. Norges Bank purchased a new position in shares of Citigroup in the 4th quarter valued at about $867,599,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Citigroup by 87,332.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock valued at $339,738,000 after acquiring an additional 7,502,751 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Citigroup in the 4th quarter valued at about $2,109,120,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Citigroup by 32.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,190,958 shares of the company’s stock valued at $729,984,000 after acquiring an additional 3,462,979 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.