Oppenheimer Boosts Citigroup (NYSE:C) Price Target to $94.00

Citigroup (NYSE:C) had its target price lifted by investment analysts at Oppenheimer from $91.00 to $94.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 36.43% from the stock’s previous close.

C has been the subject of several other reports. Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Truist Financial decreased 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. Finally, JPMorgan Chase & Co. dropped their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.04.

Citigroup Stock Performance

Shares of NYSE C opened at $68.90 on Monday. Citigroup has a 12-month low of $53.51 and a 12-month high of $84.74. The firm has a market capitalization of $129.68 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $68.82 and a 200 day moving average of $71.15.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. On average, research analysts anticipate that Citigroup will post 7.53 earnings per share for the current year.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Citigroup

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

Institutional Trading of Citigroup

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased 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 worth $2,853,484,000 after buying an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after acquiring an additional 815,003 shares during the period. FMR LLC raised its stake in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital World Investors grew its stake in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. 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.