Citigroup’s (C) Overweight Rating Reiterated at Piper Sandler

Citigroup (NYSE:C)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a report released on Thursday,Benzinga reports. They currently have a $83.00 target price on the stock, up from their previous target price of $80.00. Piper Sandler’s target price suggests a potential upside of 5.83% from the company’s current price.

Several other equities research analysts have also weighed in on C. The Goldman Sachs Group boosted their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.80.

Citigroup Stock Up 0.2 %

Shares of C traded up $0.16 during mid-day trading on Thursday, hitting $78.43. 8,618,412 shares of the company’s stock were exchanged, compared to its average volume of 17,412,332. The stock has a market cap of $148.33 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 0.59 and a beta of 1.43. The firm has a fifty day moving average of $70.78 and a two-hundred day moving average of $65.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a twelve month low of $50.51 and a twelve month high of $79.25.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the company posted $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Citigroup will post 5.88 earnings per share for the current year.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Citigroup

A number of hedge funds have recently made changes to their positions in C. American Century Companies Inc. raised its position in Citigroup by 2.3% in the second quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock worth $21,538,000 after purchasing an additional 7,778 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Citigroup by 17.1% in the 2nd quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock valued at $1,101,000 after purchasing an additional 2,539 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Citigroup by 20.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company’s stock worth $14,667,000 after buying an additional 39,725 shares in the last quarter. Argent Trust Co lifted its position in shares of Citigroup by 2.5% during the 2nd quarter. Argent Trust Co now owns 57,575 shares of the company’s stock worth $3,654,000 after buying an additional 1,394 shares during the period. Finally, Blair William & Co. IL boosted its stake in Citigroup by 3.8% in the 2nd quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock valued at $9,622,000 after buying an additional 5,481 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

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.