Truist Financial Issues Pessimistic Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price reduced by analysts at Truist Financial from $84.00 to $79.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 24.94% from the stock’s current price.

A number of other equities analysts have also weighed in on C. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI lowered their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Bank of America decreased their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley cut their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.61.

Citigroup Stock Performance

NYSE:C opened at $63.23 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a fifty day moving average of $71.47 and a 200-day moving average of $70.91. The firm has a market capitalization of $119.01 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. As a group, sell-side analysts anticipate that Citigroup will post 7.53 EPS for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after buying an additional 11,674 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares during the period. Inspire Trust Co. N.A. lifted its holdings in Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares in the last quarter. Invesco Ltd. boosted its stake in Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after buying an additional 12,280 shares in the last quarter. 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.