Truist Financial Initiates Coverage on Citigroup (NYSE:C)

Equities research analysts at Truist Financial began coverage on shares of Citigroup (NYSE:C) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $85.00 price target on the stock. Truist Financial’s target price would suggest a potential upside of 16.07% from the company’s previous close.

A number of other brokerages also recently issued reports on C. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a research report on Monday. Piper Sandler boosted their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Bank of America raised their price target on shares of Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Wells Fargo & Company upped their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $80.13.

Citigroup Price Performance

Shares of Citigroup stock opened at $73.23 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $69.85 and a two-hundred day simple moving average of $64.89. The stock has a market capitalization of $138.50 billion, a P/E ratio of 21.23, a PEG ratio of 0.80 and a beta of 1.43. Citigroup has a 12 month low of $50.51 and a 12 month high of $74.29.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 EPS. As a group, analysts predict that Citigroup will post 5.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Citigroup

Large investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth $31,000. Strategic Financial Concepts LLC lifted its position in shares of Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.