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

Citigroup (NYSE:C) had its price target lowered by equities researchers at The Goldman Sachs Group from $90.00 to $80.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 14.64% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Keefe, Bruyette & Woods upped their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley dropped their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.53.

Citigroup Trading Down 0.6 %

Citigroup stock opened at $69.78 on Wednesday. The business has a 50 day moving average price of $77.51 and a two-hundred day moving average price of $70.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $131.50 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup has a 12 month low of $53.51 and a 12 month 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, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, equities analysts forecast that Citigroup will post 7.53 EPS for the current year.

Citigroup announced that its board has initiated a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its stake in shares of Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. lifted its stake in shares of Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of Citigroup by 12.7% in the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock valued at $14,139,000 after acquiring an additional 22,657 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.