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

Citigroup (NYSE:C) had its price objective upped by research analysts at Truist Financial from $93.00 to $99.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 6.34% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. TD Cowen lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday. Barclays upped their target price on Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating for the company. UBS Group reiterated a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday. Finally, Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.46.

Citigroup Price Performance

C stock opened at $93.10 on Wednesday. The firm has a 50-day moving average of $79.99 and a two-hundred day moving average of $75.29. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $173.88 billion, a PE ratio of 13.75, a P/E/G ratio of 0.70 and a beta of 1.34. Citigroup has a one year low of $53.51 and a one year high of $93.27.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. Citigroup’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. On average, analysts forecast that Citigroup will post 7.53 earnings per share for the current year.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated 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 owned 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter worth approximately $29,000. Accent Capital Management LLC boosted its position in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC lifted its stake in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. 71.72% of the stock is owned by 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.