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

Key Points

• Wells Fargo & Company has increased its price target for Citigroup from $115.00 to $125.00, indicating a potential upside of 25.07% from the last closing price.
• Multiple analysts have issued upgrades for Citigroup, with 10 rating it as a Buy and 5 as a Hold, reflecting a consensus rating of Moderate Buy.
• Citigroup reported earnings of $1.96 per share in its latest quarter, significantly surpassing expectations and showing an 8.2% increase in revenue year-over-year.

Citigroup (NYSE:C - Get Free Report) had its price target boosted by stock analysts at Wells Fargo & Company from $115.00 to $125.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 25.07% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Bank of America raised their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Oppenheimer raised their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Piper Sandler lifted their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $97.68.

Citigroup Trading Up 0.2%

Shares of C stock opened at $99.94 on Tuesday. Citigroup has a 52-week low of $55.51 and a 52-week high of $100.17. The stock has a market cap of $183.98 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.85 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average of $93.88 and a 200-day moving average of $80.02.

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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the prior year, the company posted $1.52 EPS. The business's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citigroup

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Citigroup in the second quarter worth $2,455,929,000. Goldman Sachs Group Inc. grew its stake in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Citigroup during the first quarter valued at $578,100,000. Amundi boosted its position in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after buying an additional 6,026,268 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 6.6% in the first 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 during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.

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