Citigroup (NYSE:C) Given New $94.00 Price Target at Oppenheimer

Citigroup (NYSE:C) had its target price raised by equities research analysts at Oppenheimer from $91.00 to $94.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 36.43% from the stock’s previous close.

Other research analysts have also issued reports about the company. StockNews.com lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Evercore ISI reduced their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Piper Sandler reissued an “overweight” rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial cut their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.04.

Citigroup Trading Up 0.9 %

NYSE C opened at $68.90 on Monday. Citigroup has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $129.68 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company’s 50-day simple moving average is $68.82 and its two-hundred day simple moving average is $71.15.

Citigroup (NYSE:C) last issued its quarterly earnings data 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. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities analysts forecast that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

Institutional Trading of Citigroup

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Citigroup in the fourth quarter worth about $1,935,599,000. Capital World Investors increased its stake in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC raised its holdings in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. boosted its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Finally, Swedbank AB grew its holdings in Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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.