Wells Fargo & Company Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $110.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 27.70% from the company's current price.

Several other analysts have also recently weighed in on C. Barclays raised their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday. TD Cowen increased their target price on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday. Truist Financial lifted their price target on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.46.

Citigroup Stock Performance

Shares of NYSE C traded down $0.66 during trading on Wednesday, reaching $90.06. 23,312,073 shares of the stock traded hands, compared to its average volume of 14,645,427. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $168.20 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. Citigroup has a 52-week low of $53.51 and a 52-week high of $91.80. The company has a 50-day moving average of $79.56 and a 200-day moving average of $75.13.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.33% and a net margin of 8.44%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 EPS. Analysts forecast that Citigroup will post 7.53 EPS for the current fiscal year.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Citigroup

Institutional investors and hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. MorganRosel Wealth Management LLC purchased a new stake in Citigroup in the first quarter worth $28,000. Accent Capital Management LLC raised its holdings in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares in the last quarter. American National Bank & Trust purchased a new position in Citigroup during the first quarter valued at $29,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after buying an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

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.