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

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

Other equities research analysts have also issued research reports about the company. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Bank of America upped 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. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Citigroup Trading Up 1.7 %

NYSE:C opened at $71.43 on Wednesday. Citigroup has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $77.47 and a two-hundred day moving average price of $70.12. The stock has a market capitalization of $134.61 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 7.43% and a return on equity of 6.62%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that Citigroup will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was 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 approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Institutional Trading of Citigroup

A number of institutional investors and hedge funds have recently bought and sold shares of C. Core Alternative Capital raised its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth approximately $31,000. Creative Capital Management Investments LLC purchased a new position in Citigroup in the 4th quarter worth approximately $35,000. Finally, Webster Bank N. A. grew its position in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

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.