Citigroup (NYSE:C) Price Target Raised to $150.00 at UBS Group

Key Points

• UBS Group raised its price target on Citigroup to $150 from $134 while keeping a neutral rating, implying about 4.4% upside from the current price.
• Citigroup has seen mixed analyst sentiment overall: several firms recently lifted targets or kept bullish ratings, while Oppenheimer downgraded the stock to market perform. The consensus target now stands at $141.71 with a Moderate Buy rating.
• The company continues to show solid fundamentals, including better-than-expected quarterly earnings and revenue, plus a newly authorized $30 billion stock repurchase plan that covers up to 13.7% of shares.

Citigroup (NYSE:C - Get Free Report) had its target price boosted by analysts at UBS Group from $134.00 to $150.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective points to a potential upside of 4.37% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Oppenheimer downgraded shares of Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. Barclays raised their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $141.71.

Citigroup Stock Performance

NYSE:C opened at $143.71 on Tuesday. The company has a market capitalization of $245.11 billion, a PE ratio of 17.80, a P/E/G ratio of 0.60 and a beta of 1.11. The company has a 50 day simple moving average of $132.80 and a two-hundred day simple moving average of $122.17. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup has a fifty-two week low of $85.48 and a fifty-two week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business earned $1.96 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that Citigroup will post 10.83 earnings per share for the current year.

Citigroup announced that its board has initiated a stock repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the transaction, the insider owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares of the company's stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of C. Cora Capital Advisors LLC boosted its holdings in Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock worth $296,000 after acquiring an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock valued at $2,336,000 after purchasing an additional 79 shares in the last quarter. Verus Capital Partners LLC lifted its position in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock valued at $321,000 after purchasing an additional 82 shares in the last quarter. Somerset Trust Co boosted its holdings in Citigroup by 0.6% during the second quarter. Somerset Trust Co now owns 14,955 shares of the company's stock worth $2,093,000 after purchasing an additional 82 shares during the last quarter. Finally, CFO Capital Management LLC boosted its holdings in Citigroup by 1.5% during the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company's stock worth $590,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: JPMorgan raised its price target on Citigroup to $149 from $135.50 and reiterated an Overweight rating, signaling confidence in further upside ahead of earnings. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Analysts expect U.S. bank earnings, including Citigroup (C), to benefit from a surge in sales and trading revenue and solid M&A advisory fees, helped in part by the blockbuster SpaceX IPO. Reuters article on Wall Street bank earnings
• Positive Sentiment: Citigroup was highlighted in a broader bullish note on big-bank stocks, with JPMorgan saying investment-banking and trading revenues may exceed prior guidance and lifting targets across the group. Yahoo Finance article on bank stocks rallying ahead of earnings
• Positive Sentiment: Citigroup also announced a new expansion in its commodities business by becoming a clearing member of London Precious Metals Clearing Limited, broadening its gold, silver, platinum and palladium settlement services. Business Wire article on Citi precious metals clearing
• Neutral Sentiment: Multiple pieces noted that Citigroup (C) is expected to report quarterly earnings on Tuesday, with consensus calling for higher EPS year over year; the report itself is the main near-term catalyst. American Banking News earnings preview
• Neutral Sentiment: Citigroup was also mentioned for appointing Citi as depositary bank for Vicore Pharma’s ADR program, a routine fee-generating services win with limited immediate stock impact. Yahoo Finance article on Vicore Pharma ADR appointment

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi's principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.

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