Citigroup Inc. (NYSE:C) Given Average Rating of “Moderate Buy” by Analysts

Shares of Citigroup Inc. (NYSE:C) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $145.00.

Several brokerages have commented on C. Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Truist Financial increased their price objective on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group raised their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Citigroup

Several institutional investors have recently modified their holdings of the company. Cora Capital Advisors LLC grew its stake in shares of Citigroup by 3.1% during the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after buying an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC raised its holdings in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after buying an additional 79 shares during the period. Verus Capital Partners LLC lifted its stake in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after acquiring an additional 82 shares during the last quarter. Somerset Trust Co lifted its stake in shares of Citigroup by 0.6% during the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock worth $2,093,000 after acquiring an additional 82 shares during the last quarter. Finally, CFO Capital Management LLC boosted its holdings in Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock valued at $590,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 0.1%

Shares of NYSE:C opened at $140.67 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day moving average is $133.71 and its 200-day moving average is $122.88. The company has a market cap of $239.92 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.66 and a beta of 1.11. Citigroup has a 52-week low of $85.61 and a 52-week high of $147.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Citigroup will post 10.89 earnings per share for the current year.

Citigroup declared that its board has initiated a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.