The Goldman Sachs Group Boosts Citigroup (NYSE:C) Price Target to $85.00

Citigroup (NYSE:C) had its price target hoisted by equities researchers at The Goldman Sachs Group from $75.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 9.00% from the stock’s current price.

A number of other equities analysts have also weighed in on C. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a research note on Tuesday, May 20th. Royal Bank of Canada reduced their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler restated an “overweight” rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America decreased their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Truist Financial dropped their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup Trading Down 0.2%

Shares of NYSE:C traded down $0.19 during midday trading on Tuesday, hitting $77.99. 4,676,575 shares of the stock traded hands, compared to its average volume of 16,033,968. 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 business’s 50 day moving average is $69.55 and its two-hundred day moving average is $72.84. The stock has a market capitalization of $145.66 billion, a PE ratio of 13.11, a P/E/G ratio of 0.64 and a beta of 1.33. Citigroup has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. As a group, research analysts forecast that Citigroup will post 7.53 earnings per share for the current year.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors have recently made changes to their positions in C. American Century Companies Inc. raised its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after acquiring an additional 11,674 shares in the last quarter. Invesco Ltd. grew its holdings in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares in the last quarter. Candriam S.C.A. increased its position in shares of Citigroup by 12.7% during the fourth 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. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Finally, Unified Investment Management bought a new stake in shares of Citigroup during the fourth quarter valued at about $658,000. Institutional investors 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.