Citigroup (NYSE:C) Raised to Moderate Buy at Dbs Bank

Citigroup (NYSE:C - Get Free Report) was upgraded by investment analysts at Dbs Bank from a "hold" rating to a "moderate buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday. Piper Sandler increased their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group reissued a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.46.

Citigroup Stock Performance

Shares of C traded up $0.35 during trading hours on Thursday, hitting $93.44. The company's stock had a trading volume of 16,590,582 shares, compared to its average volume of 14,699,795. The company has a market cap of $174.52 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The business has a 50 day simple moving average of $80.43 and a two-hundred day simple moving average of $75.48. Citigroup has a 52-week low of $53.51 and a 52-week high of $93.80.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. Citigroup's revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Citigroup will post 7.53 earnings per share for the current fiscal year.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Brighton Jones LLC grew its stake in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Proficio Capital Partners LLC purchased a new stake in Citigroup in the 4th quarter valued at about $274,000. Whittier Trust Co. raised its holdings in Citigroup by 14.6% in the 4th quarter. Whittier Trust Co. now owns 41,212 shares of the company's stock valued at $2,900,000 after buying an additional 5,260 shares during the period. Summit Global Investments grew its position in Citigroup by 104.3% in the 4th quarter. Summit Global Investments now owns 62,604 shares of the company's stock valued at $4,407,000 after acquiring an additional 31,964 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Citigroup in the 4th quarter valued at about $99,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Company Profile

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.