Citigroup (NYSE:C) Price Target Raised to $134.00

Citigroup (NYSE:C) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $130.00 to $134.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.00% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Piper Sandler set a $135.00 target price on Citigroup in a report on Thursday, January 15th. Bank of America upped their price target on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group upped their price objective on Citigroup from $113.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.19.

Citigroup Stock Performance

NYSE C traded up $1.39 during trading hours on Monday, hitting $124.08. 9,566,810 shares of the company’s stock traded hands, compared to its average volume of 14,600,262. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.63. Citigroup has a 52 week low of $55.51 and a 52 week high of $125.16. The business’s fifty day moving average price is $115.27 and its two-hundred day moving average price is $104.03. The firm has a market capitalization of $222.01 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.78 and a beta of 1.18.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The company had revenue of $19.87 billion for the quarter, compared to analysts’ expectations of $20.99 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Citigroup will post 7.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of C. Wolff Wiese Magana LLC increased its position in shares of Citigroup by 87.6% during the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup during the fourth quarter worth about $28,000. Dunhill Financial LLC raised its position in shares of Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after acquiring an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new stake in Citigroup in the 4th quarter valued at $32,000. Finally, High Note Wealth LLC increased its position in shares of Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analyst bullishness: sell?side coverage is highlighting Citigroup as one of three top investment?bank names after solid Q4 results and improving deal/trading activity, supporting expectations for fee and trading revenue strength. 3 Must-Buy Investment Bank Behemoths After Solid Q4 Earnings
• Positive Sentiment: Investment?bank deal flow: Citigroup is a joint global coordinator on the UI Boustead REIT IPO in Singapore — a small but tangible example of ongoing ECM/IB fee opportunities in APAC that help diversify fee pipelines. UI Boustead REIT begins premarketing of Singapore IPO, term sheet shows
• Neutral Sentiment: Capital?mix reporting and valuation focus: coverage on Citigroup’s evolving capital structure — including recent preferred stock and bond issuances — is prompting fresh analysis of ROE, tangible equity and valuation multiples. That can be read two ways (stabilizes capital but can compress equity returns), so investors are re?pricing risk/return accordingly. A Look At Citigroup (C) Valuation As New Preferred Stock And Bond Issuances Reshape Its Capital Mix
• Neutral Sentiment: Citi research activity: Citi analysts have been active (example: revising coverage on other tech/crypto names), which signals an engaged research desk but has limited direct impact on Citi’s equity; it can influence market perception of the bank’s franchise. Citi cuts Coinbase price target to $400 after stock’s 65% plunge from record high
• Negative Sentiment: Macro/credit risk — commercial real estate: rising office CMBS delinquencies and record defaults in U.S. office debt increase concerns about banks’ CRE exposure and potential provisioning, which is a headwind for bank shares including Citigroup. Commercial Real Estate Shock as Office CMBS Defaults Hit 11.7%

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.