JPMorgan Chase & Co. Has Lowered Expectations for Citigroup (NYSE:C) Stock Price

Key Points

• JPMorgan lowered Citigroup’s price target from $149 to $147 while maintaining an “overweight” rating, implying roughly 15% upside from the reported share price of $127.70.
• Analyst sentiment remains broadly positive: Citigroup has an average “Moderate Buy” rating and a consensus price target of $149.22, despite one recent downgrade to “hold.”
• Citigroup recently exceeded quarterly expectations, reporting $3.15 in earnings per share versus a $2.74 consensus estimate and 14.5% year-over-year revenue growth. Institutional investors own approximately 71.72% of the company’s stock.

Citigroup (NYSE:C - Get Free Report) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $149.00 to $147.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 15.11% from the company's current price.

A number of other analysts have also commented on the stock. Evercore set a $140.00 price objective on shares of Citigroup in a research note on Thursday. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Finally, HSBC began coverage on Citigroup in a report on Monday. They issued a "buy" rating and a $164.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $149.22.

Citigroup Price Performance

NYSE C traded up $0.70 on Friday, reaching $127.70. The company's stock had a trading volume of 3,664,848 shares, compared to its average volume of 12,546,031. Citigroup has a twelve month low of $93.66 and a twelve month high of $147.96. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50 day moving average is $134.14 and its two-hundred day moving average is $130.62. The stock has a market cap of $217.81 billion, a PE ratio of 13.79, a PEG ratio of 0.57 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same period in the previous year, the firm earned $1.96 EPS. The business's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup will post 11.23 EPS for the current year.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Cim Investment Management Inc. lifted its holdings in shares of Citigroup by 99.8% during the 2nd quarter. Cim Investment Management Inc. now owns 12,378 shares of the company's stock valued at $1,732,000 after buying an additional 6,184 shares during the last quarter. QRG Capital Management Inc. raised its position in Citigroup by 7.5% during the second quarter. QRG Capital Management Inc. now owns 404,784 shares of the company's stock valued at $56,560,000 after acquiring an additional 28,171 shares in the last quarter. Andra AP fonden lifted its stake in Citigroup by 22.3% in the second quarter. Andra AP fonden now owns 274,600 shares of the company's stock valued at $38,433,000 after acquiring an additional 50,100 shares during the last quarter. State Street Corp grew its position in Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company's stock worth $11,199,986,000 after acquiring an additional 2,913,701 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas acquired a new position in shares of Citigroup during the 2nd quarter worth $232,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: An analyst preview upgraded Citigroup, arguing that third-quarter earnings should remain resilient despite macroeconomic risks. The view reinforces expectations that the company can continue to benefit from stronger trading and investment-banking activity. Citigroup Q3 Preview: Earnings Should Be Alright Despite Macro Risks
• Positive Sentiment: The Federal Reserve’s proposed stress-test changes could reduce volatility in banks’ capital requirements and improve planning visibility for Citigroup. More predictable capital rules may support future capital returns, including buybacks and dividends. Fed Revamps Bank Stress Tests
• Positive Sentiment: Citi Token Services expanded to Japan and the United Arab Emirates, taking its blockchain-based payments network to seven markets. The expansion supports Citigroup’s longer-term strategy to grow digital payments and institutional transaction-banking revenue. Citi Token Services Expansion
• Neutral Sentiment: Citi raised its 12-month Bitcoin and Ethereum forecasts to $113,000 and $3,028, respectively, citing potential exchange-traded-fund inflows. The report highlights Citi’s research and crypto-market exposure, but the direct earnings impact for Citigroup is likely limited. Citigroup Raises Bitcoin Forecast
• Negative Sentiment: Citigroup shares fell during the prior session as investors sold financial stocks broadly, with money-center banks leading the decline. The weakness suggests ongoing sensitivity to interest-rate, credit, and macroeconomic concerns. Bank Stocks Slide
• Negative Sentiment: Citi warned that bond-market volatility is being driven by longer-term yields rather than changing Federal Reserve expectations. Such volatility can weigh on risk assets and complicate Citigroup’s trading, funding, and credit outlook. Citi Warns on Rate Volatility

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi's principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.

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