Citigroup (NYSE:C) Price Target Raised to $94.00

Citigroup (NYSE:C - Get Free Report) had its price target increased by Oppenheimer from $91.00 to $94.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target suggests a potential upside of 33.20% from the stock's current price.

A number of other equities analysts have also commented on the stock. Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial decreased their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $84.04.

Citigroup Stock Up 3.6 %

Shares of Citigroup stock traded up $2.43 during trading on Monday, hitting $70.57. 13,286,259 shares of the stock traded hands, compared to its average volume of 14,409,544. The stock has a market cap of $132.82 billion, a P/E ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.29. The company has a fifty day moving average price of $68.39 and a two-hundred day moving average price of $71.15. Citigroup has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities research analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has authorized a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citigroup

Several institutional investors have recently modified their holdings of C. Core Alternative Capital grew its position in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the period. Orion Capital Management LLC bought a new stake in shares of Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the first quarter worth $28,000. American National Bank & Trust bought a new stake in Citigroup in the 1st quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup in the 4th quarter worth $34,000. 71.72% of the stock is currently 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.