Citigroup (NYSE:C) Price Target Lowered to $80.00 at The Goldman Sachs Group

Citigroup (NYSE:C) had its target price decreased by The Goldman Sachs Group from $90.00 to $80.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts also recently commented on the stock. Oppenheimer cut their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.53.

Citigroup Price Performance

Shares of Citigroup stock opened at $71.43 on Wednesday. The stock has a market capitalization of $134.61 billion, a P/E ratio of 12.01, a PEG ratio of 0.64 and a beta of 1.43. The business has a 50 day simple moving average of $77.47 and a two-hundred day simple moving average of $70.12. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Several large investors have recently modified their holdings of the company. True Wealth Design LLC raised its stake in Citigroup by 11.1% during the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after acquiring an additional 119 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock worth $459,000 after purchasing an additional 120 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC lifted its holdings in shares of Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the period. Hemington Wealth Management grew its position in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after buying an additional 136 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares during the period. 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.