The Goldman Sachs Group Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C - Get Free Report) had its price target boosted by investment analysts at The Goldman Sachs Group from $75.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 11.40% from the company's current price.

C has been the subject of a number of other reports. Truist Financial lowered their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Cowen assumed coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Evercore ISI lowered their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Finally, Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

Citigroup Stock Performance

Shares of C stock traded down $1.93 during midday trading on Tuesday, hitting $76.30. 11,986,532 shares of the company were exchanged, compared to its average volume of 14,530,563. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $142.51 billion, a P/E ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33. Citigroup has a 52 week low of $53.51 and a 52 week high of $84.74. The firm's 50 day moving average price is $71.01 and its two-hundred day moving average price is $73.01.

Citigroup (NYSE:C - Get Free Report) last announced 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 net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. As a group, equities research analysts anticipate that Citigroup will post 7.53 earnings per share for the current 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 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 now owns 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 legal filing with the SEC, which is available through this link. Insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank lifted its position in shares of Citigroup by 6.6% during the first quarter. First Hawaiian Bank now owns 20,932 shares of the company's stock worth $1,486,000 after acquiring an additional 1,302 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Citigroup by 747.0% in the first quarter. Hodges Capital Management Inc. now owns 61,170 shares of the company's stock worth $4,342,000 after buying an additional 53,948 shares during the period. Modern Wealth Management LLC lifted its holdings in Citigroup by 9.0% in the first quarter. Modern Wealth Management LLC now owns 28,315 shares of the company's stock worth $2,010,000 after buying an additional 2,330 shares during the period. Anson Funds Management LP purchased a new position in shares of Citigroup during the first quarter valued at approximately $710,000. Finally, Strs Ohio purchased a new position in Citigroup in the 1st quarter worth approximately $85,337,000. 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.