Citigroup (NYSE:C) Price Target Raised to $112.00 at Truist Financial

Key Points

• Truist Financial has raised Citigroup's price target to $112.00, indicating a potential upside of 9.25% from its current price.
• Citigroup reported $1.96 earnings per share for the quarter, exceeding estimates by $0.35 and achieving an 8.2% year-over-year revenue increase.
• Institutional ownership of Citigroup stock stands at 71.72%, with several large investors increasing their stakes in the company during the second quarter.

Citigroup (NYSE:C - Get Free Report) had its price target boosted by investment analysts at Truist Financial from $105.00 to $112.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 9.25% from the company's current price.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Bank of America boosted their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Barclays boosted their price objective on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.11.

Citigroup Stock Down 0.5%

Shares of Citigroup stock traded down $0.48 during trading on Wednesday, hitting $102.52. 4,908,019 shares of the stock traded hands, compared to its average volume of 15,425,943. The company has a fifty day moving average price of $95.69 and a two-hundred day moving average price of $81.20. Citigroup has a twelve month low of $55.51 and a twelve month high of $105.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $188.73 billion, a P/E ratio of 15.14, a PEG ratio of 0.89 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the company earned $1.52 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Citigroup

Several large investors have recently modified their holdings of the business. Caldwell Trust Co bought a new stake in shares of Citigroup in the second quarter worth about $217,000. Watts Gwilliam & Co. LLC increased its holdings in shares of Citigroup by 3.5% in the second quarter. Watts Gwilliam & Co. LLC now owns 7,260 shares of the company's stock worth $618,000 after acquiring an additional 247 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Citigroup by 1.6% during the second quarter. Valeo Financial Advisors LLC now owns 66,346 shares of the company's stock worth $5,647,000 after buying an additional 1,064 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Citigroup by 2.0% during the second quarter. Orion Porfolio Solutions LLC now owns 108,213 shares of the company's stock worth $9,211,000 after buying an additional 2,141 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Citigroup by 11.9% during the second quarter. Thrivent Financial for Lutherans now owns 156,523 shares of the company's stock worth $13,310,000 after buying an additional 16,652 shares in 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.

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