Citigroup (NYSE:C) Sets New 52-Week High - Time to Buy?

Citigroup Inc. (NYSE:C - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $88.83 and last traded at $87.56, with a volume of 12401295 shares. The stock had previously closed at $88.72.

Analysts Set New Price Targets

Several research firms have recently weighed in on C. Morgan Stanley boosted their price target on Citigroup from $94.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Royal Bank Of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus price target of $85.43.

Citigroup Stock Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a 50 day simple moving average of $77.01 and a 200-day simple moving average of $74.37. The stock has a market capitalization of $159.84 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34.

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

Insider Buying and Selling at Citigroup

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 transaction, the director directly owned 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Citigroup

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Citigroup during the fourth quarter worth $1,935,599,000. Capital World Investors grew its holdings in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares in the last quarter. Nuveen LLC bought a new stake in Citigroup during the first quarter worth $578,100,000. Finally, FMR LLC grew its holdings in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.