Citigroup (NYSE:C) Price Target Raised to $86.00 at The Goldman Sachs Group

Citigroup (NYSE:C) had its price target increased by The Goldman Sachs Group from $77.00 to $86.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 7.43% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. 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. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley decreased their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Shares of NYSE:C opened at $80.05 on Thursday. The company has a market cap of $151.40 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The business has a 50 day moving average price of $70.99 and a 200 day moving average price of $65.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a twelve month low of $50.51 and a twelve month high of $80.45.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the business earned $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Citigroup will post 5.88 earnings per share for the current year.

Citigroup declared that its board has initiated a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently bought and sold shares of C. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth $31,000. GHP Investment Advisors Inc. boosted its position in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the period. 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.