Barclays Boosts Citigroup (NYSE:C) Price Target to $70.00

Citigroup (NYSE:C) had its price objective lifted by Barclays from $63.00 to $70.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on C. Argus raised their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer cut their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Down 1.8 %

Shares of NYSE C opened at $62.85 on Wednesday. Citigroup has a one year low of $38.17 and a one year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50 day simple moving average is $61.35 and its two-hundred day simple moving average is $61.92. The stock has a market capitalization of $119.87 billion, a P/E ratio of 17.60, a PEG ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts expect that Citigroup will post 5.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Citigroup

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Citigroup by 86.8% in the 4th quarter. Wellington Management Group LLP now owns 2,206,189 shares of the company’s stock worth $113,486,000 after buying an additional 1,025,422 shares during the last quarter. CWM LLC raised its position in Citigroup by 47.4% in the 1st quarter. CWM LLC now owns 57,255 shares of the company’s stock worth $3,621,000 after buying an additional 18,406 shares during the last quarter. Mather Group LLC. purchased a new position in Citigroup in the 1st quarter worth about $189,000. Massmutual Trust Co. FSB ADV raised its position in Citigroup by 4.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 6,973 shares of the company’s stock worth $441,000 after buying an additional 285 shares during the last quarter. Finally, Perpetual Ltd raised its position in Citigroup by 13.0% in the 1st quarter. Perpetual Ltd now owns 48,450 shares of the company’s stock worth $3,064,000 after buying an additional 5,558 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.