Citigroup (NYSE:C) Hits New 52-Week High on Analyst Upgrade

Citigroup Inc. (NYSE:C)’s stock price hit a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $60.00 to $62.00. Evercore ISI currently has an in-line rating on the stock. Citigroup traded as high as $65.02 and last traded at $64.70, with a volume of 1310087 shares traded. The stock had previously closed at $64.68.

C has been the subject of several other research reports. HSBC increased their price objective on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Piper Sandler upped their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada raised their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.16.

Institutional Trading of Citigroup

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Wealth Planning Services Inc. lifted its position in Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares during the last quarter. NorthRock Partners LLC lifted its holdings in shares of Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Family Legacy Inc. boosted its position in shares of Citigroup by 2.9% in the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after purchasing an additional 179 shares in the last quarter. Accel Wealth Management grew its stake in Citigroup by 3.9% during the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock worth $311,000 after buying an additional 185 shares during the last quarter. Finally, Massachusetts Wealth Management increased its position in Citigroup by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after buying an additional 192 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $122.95 billion, a PE ratio of 19.07, a PEG ratio of 0.99 and a beta of 1.46. The business has a 50 day simple moving average of $62.25 and a 200 day simple moving average of $58.27.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. Equities research analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

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.