Bank of America Raises Citigroup (NYSE:C) Price Target to $100.00

Citigroup (NYSE:C - Get Free Report) had its target price raised by analysts at Bank of America from $89.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's target price would suggest a potential upside of 21.01% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada reduced their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. The Goldman Sachs Group restated a "buy" rating on shares of Citigroup in a report on Tuesday. Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Finally, Truist Financial dropped their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $84.03.

Citigroup Stock Up 1.8%

Shares of NYSE:C opened at $82.64 on Thursday. The company has a market cap of $154.35 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.63 and a beta of 1.33. Citigroup has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm's 50-day simple moving average is $73.68 and its 200-day simple moving average is $73.45. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, equities research analysts predict that Citigroup will post 7.53 earnings per share for the current year.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Citigroup

A number of hedge funds have recently added to or reduced their stakes in C. Swedbank AB boosted its position in shares of Citigroup by 14.1% during the first quarter. Swedbank AB now owns 9,499,762 shares of the company's stock worth $674,388,000 after buying an additional 1,173,017 shares during the period. First Hawaiian Bank raised its position in shares of Citigroup by 6.6% during the 1st quarter. First Hawaiian Bank now owns 20,932 shares of the company's stock worth $1,486,000 after buying an additional 1,302 shares in the last quarter. Hodges Capital Management Inc. lifted its position in Citigroup by 747.0% in the first quarter. Hodges Capital Management Inc. now owns 61,170 shares of the company's stock worth $4,342,000 after purchasing an additional 53,948 shares during the period. Modern Wealth Management LLC boosted its stake in Citigroup by 9.0% during the 1st quarter. Modern Wealth Management LLC now owns 28,315 shares of the company's stock valued at $2,010,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Anson Funds Management LP acquired a new position in shares of Citigroup during the 1st quarter valued at $710,000. 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.

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