The Goldman Sachs Group Increases Citigroup (NYSE:C) Price Target to $86.00

Citigroup (NYSE:C) had its target price boosted by The Goldman Sachs Group from $77.00 to $86.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 10.00% from the company’s current price.

Several other brokerages have also issued reports on C. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday. Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.13.

Citigroup Price Performance

Shares of Citigroup stock traded down $0.09 on Thursday, hitting $78.18. The company’s stock had a trading volume of 9,581,858 shares, compared to its average volume of 17,608,443. Citigroup has a 52-week low of $50.51 and a 52-week high of $79.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average price of $70.78 and a 200-day moving average price of $65.32. The company has a market capitalization of $147.86 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities research analysts expect that Citigroup will post 5.88 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Citigroup

Hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at $31,000. GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

About Citigroup

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.