Citigroup (NYSE:C) Price Target Lowered to $75.50 at JPMorgan Chase & Co.

Citigroup (NYSE:C) had its price objective dropped by JPMorgan Chase & Co. from $85.50 to $75.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.14% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on C. The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley cut their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.30.

Citigroup Trading Up 1.8 %

C stock opened at $71.81 on Thursday. Citigroup has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $135.16 billion, a P/E ratio of 12.07, a PEG ratio of 0.64 and a beta of 1.43. The company’s 50-day simple moving average is $76.46 and its 200-day simple moving average is $71.01.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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 on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

A number of institutional investors have recently made changes to their positions in C. Kera Capital Partners Inc. lifted its holdings in shares of Citigroup by 9.3% in the 1st quarter. Kera Capital Partners Inc. now owns 3,665 shares of the company’s stock worth $260,000 after acquiring an additional 313 shares during the last quarter. Marcum Wealth LLC raised its position in Citigroup by 7.9% in the first quarter. Marcum Wealth LLC now owns 5,483 shares of the company’s stock valued at $389,000 after purchasing an additional 403 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Citigroup by 7.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 9,006 shares of the company’s stock worth $639,000 after purchasing an additional 601 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Citigroup during the fourth quarter worth $34,000. Finally, DSG Capital Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $10,752,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

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.