Citigroup (NYSE:C) Earns Overweight Rating from Piper Sandler

Citigroup (NYSE:CGet Free Report)‘s stock had its “overweight” rating reissued by Piper Sandler in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $83.00 price objective on the stock, up from their previous price objective of $80.00. Piper Sandler’s price target indicates a potential upside of 3.68% from the stock’s current price.

C has been the subject of several other research reports. The Goldman Sachs Group upped their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Get Our Latest Stock Analysis on C

Citigroup Trading Up 2.0 %

Shares of Citigroup stock opened at $80.05 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. Citigroup has a 1 year low of $50.51 and a 1 year high of $80.45. The company’s fifty day moving average is $70.99 and its two-hundred day moving average is $65.41.

Citigroup (NYSE:CGet Free Report) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Analysts forecast that Citigroup will post 5.88 earnings per share for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Citigroup

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. increased its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in shares of Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

About Citigroup

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Citigroup (NYSE:C)

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