Citigroup (NYSE:C) Price Target Lowered to $84.00 at Truist Financial

Citigroup (NYSE:C) had its price objective dropped by research analysts at Truist Financial from $85.00 to $84.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 48.37% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley cut their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Evercore ISI reduced their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.23.

Citigroup Stock Down 10.2 %

Shares of Citigroup stock traded down $6.44 during trading on Friday, reaching $56.61. The stock had a trading volume of 14,716,400 shares, compared to its average volume of 13,904,616. The company has a market capitalization of $106.56 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup has a 52 week low of $53.51 and a 52 week high of $84.74. The stock has a fifty day moving average price of $76.08 and a two-hundred day moving average price of $70.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (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 for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now 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 sold a total of 103,590 shares of company stock valued at $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently added to or reduced their stakes in C. Versant Capital Management Inc grew its position in Citigroup by 134.3% during the 1st quarter. Versant Capital Management Inc now owns 5,485 shares of the company’s stock valued at $389,000 after purchasing an additional 3,144 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Citigroup by 6.6% in the 1st quarter. First Hawaiian Bank now owns 20,932 shares of the company’s stock worth $1,486,000 after purchasing an additional 1,302 shares in the last quarter. Kera Capital Partners Inc. raised its stake in shares of Citigroup by 9.3% in the first quarter. Kera Capital Partners Inc. now owns 3,665 shares of the company’s stock worth $260,000 after purchasing an additional 313 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of Citigroup by 7.9% during the first quarter. Marcum Wealth LLC now owns 5,483 shares of the company’s stock valued at $389,000 after purchasing an additional 403 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Citigroup by 7.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 9,006 shares of the company’s stock valued at $639,000 after buying an additional 601 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

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.