Citigroup (NYSE:C) Price Target Lowered to $154.00 at Truist Financial

Citigroup (NYSE:C) had its price objective decreased by Truist Financial from $158.00 to $154.00 in a research note issued to investors on Wednesday, Marketbeat reports. Truist Financial currently has a buy rating on the stock.

C has been the subject of several other research reports. Wells Fargo & Company lifted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. The Goldman Sachs Group lifted their price target on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Morgan Stanley boosted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Citigroup Trading Up 1.3%

C opened at $135.03 on Wednesday. The company has a fifty day moving average price of $134.21 and a two-hundred day moving average price of $123.21. Citigroup has a 1-year low of $87.94 and a 1-year high of $147.96. The company has a market cap of $230.31 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same period in the previous year, the company posted $1.96 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Citigroup will post 10.89 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Citigroup during the fourth quarter valued at about $2,800,944,000. Vanguard Group Inc. boosted its holdings in shares of Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Citigroup in the 4th quarter worth about $298,082,000. SEB Asset Management AB bought a new stake in Citigroup in the 1st quarter worth approximately $252,972,000. Finally, SG Americas Securities LLC raised its position in Citigroup by 291.4% in the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup posted a major Q2 earnings beat, with EPS of $3.15 versus $2.74 expected and revenue of about $24.8 billion versus $23.7 billion expected, helped by strong fixed income trading, investment banking, and broad-based strength across its businesses. Article Title
• Positive Sentiment: Management said Citi’s strong quarter reflects a stronger franchise and that it is accelerating investments to support more durable returns, reinforcing the turnaround narrative for the bank. Article Title
• Positive Sentiment: Analysts were upbeat after the report, with RBC reaffirming an outperform rating and a $150 price target, while Truist also kept a buy rating despite trimming its target to $154. Article Title
• Neutral Sentiment: Some valuation commentary said Citigroup may still be near fair value after a strong multi-year rally, suggesting upside is increasingly tied to continued execution rather than just multiple expansion. Article Title
• Negative Sentiment: Despite the earnings beat, shares slipped at times because investors focused on Citi’s higher expense outlook, including accelerated hiring and other investment spending that could pressure second-half profitability. Article Title
• Negative Sentiment: Reports also highlighted possible layoffs and faster job cuts, which may signal ongoing restructuring costs even as the bank tries to complete its transformation. Article Title

Citigroup Company Profile

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.