Citigroup (NYSE:C) Price Target Raised to $90.00

Citigroup (NYSE:C) had its price objective boosted by equities researchers at Bank of America from $78.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 26.99% from the company’s current price.

Several other research analysts have also commented on the company. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company lifted 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, Oppenheimer increased their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.75.

Citigroup Stock Performance

Citigroup stock opened at $70.87 on Monday. The firm has a market capitalization of $134.03 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The stock’s 50 day moving average price is $65.30 and its 200 day moving average price is $63.08. Citigroup has a one year low of $45.58 and a one year high of $71.19. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. As a group, sell-side analysts expect that Citigroup will post 5.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently made changes to their positions in C. Franklin Resources Inc. grew its position in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Acadian Asset Management LLC increased its position in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after purchasing an additional 2,100,135 shares in the last quarter. Caxton Associates LP lifted its holdings in Citigroup by 96.1% during the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after purchasing an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

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.