Citigroup (NYSE:C) PT Raised to $85.00

Citigroup (NYSE:C) had its price target increased by investment analysts at Oppenheimer from $82.00 to $85.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 87.39% from the company’s previous close.

Several other equities analysts have also issued reports on C. Bank of America dropped their price target on Citigroup from $60.00 to $50.00 in a research note on Tuesday, October 10th. Morgan Stanley dropped their price target on Citigroup from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Jefferies Financial Group dropped their price target on Citigroup from $47.00 to $43.00 in a research note on Tuesday, October 10th. Piper Sandler dropped their price target on Citigroup from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. Finally, TheStreet lowered Citigroup from a “b-” rating to a “c+” rating in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.28.

Citigroup Stock Performance

NYSE:C opened at $45.36 on Thursday. The stock has a market cap of $86.81 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 2.46 and a beta of 1.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The stock’s 50-day moving average is $41.23 and its 200-day moving average is $43.97. Citigroup has a 1-year low of $38.17 and a 1-year high of $53.23.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 13th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.29. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $19.27 billion. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 earnings per share. Equities research analysts anticipate that Citigroup will post 5.86 earnings per share for the current year.

Insider Buying and Selling at Citigroup

In other news, insider Andrew John Morton sold 28,096 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $40.66, for a total transaction of $1,142,383.36. Following the transaction, the insider now directly owns 410,060 shares in the company, valued at approximately $16,673,039.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toroso Investments LLC grew its position in Citigroup by 22.5% during the 1st quarter. Toroso Investments LLC now owns 49,560 shares of the company’s stock worth $2,324,000 after acquiring an additional 9,117 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Citigroup in the 1st quarter worth approximately $284,000. Leo Brokerage LLC bought a new stake in shares of Citigroup in the 1st quarter worth approximately $532,000. Berkeley Capital Partners LLC grew its position in shares of Citigroup by 4.4% in the 1st quarter. Berkeley Capital Partners LLC now owns 20,333 shares of the company’s stock worth $953,000 after buying an additional 858 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of Citigroup by 128.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 306,668 shares of the company’s stock worth $14,119,000 after buying an additional 172,364 shares during the last quarter. 69.26% of the stock is currently owned by institutional investors.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.