Citigroup (NYSE:C) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Citigroup (NYSE:C) had its price target upped by research analysts at Keefe, Bruyette & Woods from $82.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 19.72% from the company’s previous close.

Several other brokerages have also commented on C. Barclays raised their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Oppenheimer raised their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America raised their price target on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Piper Sandler upped their price objective on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Citigroup Stock Up 1.5 %

Shares of Citigroup stock opened at $71.00 on Friday. The stock has a market capitalization of $134.28 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.80 and a beta of 1.45. Citigroup has a twelve month low of $50.51 and a twelve month high of $73.38. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The business’s 50 day simple moving average is $69.33 and its 200-day simple moving average is $64.63.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $1.52 earnings per share. Equities research analysts forecast that Citigroup will post 5.86 earnings per share for the current year.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently modified their holdings of C. Geode Capital Management LLC grew its position in Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. raised 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 valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Fisher Asset Management LLC lifted its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Legal & General Group Plc boosted its position in Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after acquiring an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. grew its stake in Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares in the last quarter. Institutional investors and hedge funds 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.