Citigroup (NYSE:C) Given New $76.00 Price Target at Evercore ISI

Citigroup (NYSE:C) had its price target lowered by analysts at Evercore ISI from $79.00 to $76.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential upside of 8.28% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.29.

Citigroup Stock Down 1.1 %

Shares of NYSE C traded down $0.80 during mid-day trading on Tuesday, reaching $70.19. 1,868,869 shares of the company’s stock traded hands, compared to its average volume of 15,700,219. Citigroup has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a market cap of $132.11 billion, a P/E ratio of 11.78, a PEG ratio of 0.64 and a beta of 1.43. The business has a 50-day simple moving average of $76.88 and a 200 day simple moving average of $70.91. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

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

Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were 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 owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citigroup

Hedge funds have recently modified their holdings of the business. Martingale Asset Management L P purchased a new position in shares of Citigroup in the third quarter worth $316,000. Benjamin Edwards Inc. grew its stake in Citigroup by 1,188.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company’s stock valued at $724,000 after purchasing an additional 10,664 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Citigroup in the third quarter valued at about $1,270,000. Hilltop Holdings Inc. lifted its holdings in shares of Citigroup by 43.2% during the third quarter. Hilltop Holdings Inc. now owns 26,632 shares of the company’s stock worth $1,667,000 after purchasing an additional 8,029 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.