Citigroup (NYSE:C) Stock Price Expected to Rise, TD Cowen Analyst Says

Citigroup (NYSE:C - Get Free Report) had its price objective hoisted by TD Cowen from $85.00 to $95.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price objective points to a potential upside of 1.57% from the stock's previous close.

Several other research analysts also recently weighed in on the stock. Oppenheimer reissued an "outperform" rating on shares of Citigroup in a research note on Monday, July 7th. UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday. Cowen assumed coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.46.

Citigroup Price Performance

Shares of NYSE:C traded up $0.44 during midday trading on Wednesday, hitting $93.53. 5,922,809 shares of the stock were exchanged, compared to its average volume of 14,638,877. The stock has a market cap of $174.68 billion, a P/E ratio of 13.79, a PEG ratio of 0.70 and a beta of 1.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Citigroup has a twelve month low of $53.51 and a twelve month high of $93.79. The company has a 50 day moving average price of $79.99 and a 200-day moving average price of $75.29.

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

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Citigroup

A number of institutional investors have recently made changes to their positions in C. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. FMR LLC raised its position in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.