JPMorgan Chase & Co. Lowers Citigroup (NYSE:C) Price Target to $75.50

Citigroup (NYSE:C) had its price target cut by investment analysts at JPMorgan Chase & Co. from $85.50 to $75.50 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.14% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.30.

Citigroup Trading Up 1.8 %

NYSE C opened at $71.81 on Thursday. The stock has a market cap of $135.16 billion, a PE ratio of 12.07, a PEG 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. The company’s 50-day moving average price is $76.46 and its 200-day moving average price is $71.01. 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 issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Citigroup will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated 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 of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citigroup

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kera Capital Partners Inc. lifted its position in Citigroup by 9.3% during the first quarter. Kera Capital Partners Inc. now owns 3,665 shares of the company’s stock valued at $260,000 after purchasing an additional 313 shares during the period. Marcum Wealth LLC lifted its holdings in shares of Citigroup by 7.9% in the 1st quarter. Marcum Wealth LLC now owns 5,483 shares of the company’s stock valued at $389,000 after buying an additional 403 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Citigroup by 7.2% in the 1st 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 period. Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup in the fourth quarter worth about $34,000. Finally, DSG Capital Advisors LLC acquired a new stake in Citigroup during the fourth quarter worth about $10,752,000. 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.