Truist Financial Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price boosted by Truist Financial from $112.00 to $123.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 8.40% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Barclays upped their price target on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen upped their target price on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Wolfe Research reaffirmed an “outperform” rating and set a $121.00 target price on shares of Citigroup in a research note on Wednesday. UBS Group reiterated a “neutral” rating and issued a $108.00 target price on shares of Citigroup in a report on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

Citigroup Trading Up 1.8%

NYSE C traded up $2.01 on Thursday, hitting $113.47. The company’s stock had a trading volume of 849,514 shares, compared to its average volume of 14,688,382. The firm has a market cap of $203.03 billion, a PE ratio of 15.96, a PEG ratio of 0.55 and a beta of 1.21. Citigroup has a 1-year low of $55.51 and a 1-year high of $113.52. The company’s 50-day moving average is $102.07 and its 200 day moving average is $95.16. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. During the same quarter last year, the business earned $1.51 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC lifted its stake in Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. Guerra Advisors Inc purchased a new position in Citigroup during the third quarter worth about $33,000. Cloud Capital Management LLC bought a new stake in Citigroup in the 3rd quarter worth about $40,000. Finally, Howard Hughes Medical Institute bought a new stake in Citigroup in the 2nd quarter worth about $34,000. 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.