JPMorgan Chase & Co. Boosts Citigroup (NYSE:C) Price Target to $149.00

Key Points

• JPMorgan Chase & Co. raised its price target on Citigroup to $149 from $135.50 and kept an overweight rating, implying about 6.5% upside from the current price.
• Other analysts have also turned more bullish, with several firms lifting targets and ratings; Citigroup now carries a Moderate Buy consensus and a consensus price target of $140.41.
• Citigroup recently beat quarterly expectations with $3.06 EPS versus $2.63 expected and revenue of $24.63 billion, while the board also authorized a $30 billion share buyback.

Citigroup (NYSE:C - Get Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $135.50 to $149.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 6.48% from the stock's current price.

A number of other equities analysts also recently commented on C. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Truist Financial raised their price target on shares of Citigroup from $147.00 to $158.00 and gave the company a "buy" rating in a report on Friday, June 26th. Wells Fargo & Company lifted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 18th. Finally, Oppenheimer downgraded shares of Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.41.

Citigroup Stock Down 0.0%

Shares of NYSE C opened at $139.93 on Monday. The stock has a market capitalization of $238.67 billion, a PE ratio of 17.34, a P/E/G ratio of 0.60 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a fifty day moving average of $132.49 and a 200-day moving average of $121.94. Citigroup has a 52-week low of $85.48 and a 52-week high of $147.96.

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

Citigroup announced that its Board of Directors has authorized a stock buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in Citigroup by 139.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 698 shares of the company's stock valued at $98,000 after buying an additional 407 shares during the last quarter. SWP Investment Management LLC increased its position in shares of Citigroup by 3.9% during the second quarter. SWP Investment Management LLC now owns 25,393 shares of the company's stock worth $3,554,000 after acquiring an additional 960 shares during the last quarter. Eastern Bank increased its position in shares of Citigroup by 12.9% during the second quarter. Eastern Bank now owns 2,190 shares of the company's stock worth $307,000 after acquiring an additional 250 shares during the last quarter. VectorGlobal IAG Inc. acquired a new position in shares of Citigroup in the first quarter worth about $353,000. Finally, Ballast Advisors LLC acquired a new position in shares of Citigroup in the first quarter worth about $56,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s commodities unit expanded its precious-metals franchise after becoming a clearing member of London Precious Metals Clearing Limited, adding Loco London settlement services for gold, silver, platinum, and palladium. The move broadens Citi’s product suite and could support fee income. Citi Becomes Clearing Member of London Precious Metals Clearing Limited
• Positive Sentiment: Citi was appointed depositary bank for Vicore Pharma Holding AB’s sponsored Level 2 ADR program, a sign of continued momentum in Citi Issuer Services and its global capital-markets business. Citi Appointed as Depositary Bank for Vicore Pharma Holding AB’s ADR Program
• Positive Sentiment: Analysts and media coverage are focusing on Citi’s upcoming Q2 results on July 14, with expectations for continued loan growth and improved estimates keeping the stock in the spotlight. How To Earn $500 A Month From Citigroup Stock Ahead Of Q2 Earnings
• Neutral Sentiment: Citi’s CEO Jane Fraser said the firm is navigating major AI and workforce changes, underscoring management’s focus on efficiency and technology, but the article did not include a specific new financial catalyst. Citigroup CEO has a message on AI and jobs: Every bank must win these two races
• Neutral Sentiment: Citi also remained active in analyst coverage across other sectors, including raising price targets on companies like V2X, TSMC, AstraZeneca, and Northrop Grumman, which reflects ongoing trading and research activity but has limited direct impact on Citi’s own stock. Citi Raises its Price Target on V2X (VVX)

About Citigroup

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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