Citigroup (NYSE:C) Price Target Increased to $73.00 by Analysts at Piper Sandler

Citigroup (NYSE:C) had its target price boosted by Piper Sandler from $70.00 to $73.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on C. The Goldman Sachs Group reaffirmed a buy rating on shares of Citigroup in a report on Monday, April 1st. Royal Bank of Canada boosted their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an outperform rating in a research report on Monday, June 17th. Evercore ISI boosted their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an in-line rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the stock a market perform rating in a research report on Thursday, June 20th. Finally, HSBC upped their target price on shares of Citigroup from $61.00 to $70.00 and gave the company a buy rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $66.27.

Citigroup Price Performance

Shares of C opened at $67.61 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The firm has a 50-day simple moving average of $62.93 and a 200-day simple moving average of $59.27. The company has a market capitalization of $128.95 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 0.93 and a beta of 1.46.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. On average, equities research analysts anticipate that Citigroup will post 5.82 earnings per share for the current year.

Institutional Investors Weigh In On Citigroup

Institutional investors and hedge funds have recently bought and sold shares of the business. Kentucky Retirement Systems raised its stake in shares of Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after buying an additional 3,808 shares in the last quarter. Simplicity Solutions LLC lifted its position in shares of Citigroup by 17.6% in the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after purchasing an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Citigroup by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after purchasing an additional 449,310 shares during the period. GFS Advisors LLC purchased a new position in shares of Citigroup during the 4th quarter valued at $2,003,000. Finally, TD Asset Management Inc grew its stake in shares of Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after buying an additional 173,137 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.