Citigroup (NYSE:C) Price Target Lowered to $84.00 at Truist Financial

Citigroup (NYSE:C) had its price target dropped by investment analysts at Truist Financial from $85.00 to $84.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 44.83% from the stock’s current price.

C has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Bank of America decreased their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $83.23.

Citigroup Price Performance

Shares of NYSE:C opened at $58.00 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74. The firm has a market capitalization of $109.17 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29. The company’s fifty day moving average price is $75.61 and its 200 day moving average price is $71.03.

Citigroup (NYSE:C) last posted 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. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, sell-side analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Several hedge funds have recently bought and sold shares of C. Core Alternative Capital grew its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Citigroup during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the third quarter worth approximately $31,000. Mascagni Wealth Management Inc. purchased a new stake in Citigroup in the 4th quarter worth approximately $34,000. Finally, Webster Bank N. A. raised its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other 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.