The Goldman Sachs Group Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price raised by equities research analysts at The Goldman Sachs Group from $75.00 to $85.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 9.00% from the stock’s current price.

A number of other research firms have also weighed in on C. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Evercore ISI dropped their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Truist Financial cut their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Bank of America cut their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a research note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup Stock Performance

NYSE C traded down $0.19 during trading hours on Tuesday, hitting $77.99. The company’s stock had a trading volume of 4,676,575 shares, compared to its average volume of 16,033,968. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $145.66 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The company’s 50 day simple moving average is $69.55 and its two-hundred day simple moving average is $72.84. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. As a group, sell-side analysts expect that Citigroup will post 7.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Citigroup

Several large investors have recently modified their holdings of C. American Century Companies Inc. lifted its position in Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after acquiring an additional 11,674 shares in the last quarter. Invesco Ltd. increased its position in shares of Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after acquiring an additional 1,970,300 shares during the last quarter. Candriam S.C.A. increased its holdings in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after buying an additional 22,657 shares during the last quarter. Brighton Jones LLC grew its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Finally, Unified Investment Management bought a new stake in shares of Citigroup in the 4th quarter worth approximately $658,000. 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.