Citigroup (NYSE:C) Stock Rating Upgraded by StockNews.com

Citigroup (NYSE:C) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other equities analysts have also issued research reports about the company. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Bank of America boosted their target price 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 price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

C stock opened at $67.94 on Tuesday. The business’s 50-day moving average is $77.73 and its two-hundred day moving average is $69.86. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $128.04 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. Analysts anticipate that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors have recently added to or reduced their stakes in C. Geode Capital Management LLC lifted its position in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after buying an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. FMR LLC grew its stake in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its position in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.