Citigroup (C) Given New $83.00 Price Target at UBS Group

Citigroup (NYSE:C) had its price target lifted by equities researchers at UBS Group from $78.00 to $83.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 22.08% from the stock’s current price.

C has been the subject of a number of other reports. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. HSBC set a $76.00 price objective on Citigroup and gave the stock a “buy” rating in a research note on Thursday, April 4th. BMO Capital Markets upped their price objective on Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday. Credit Suisse Group restated an “outperform” rating and set a $80.00 price objective on shares of Citigroup in a research note on Tuesday, January 15th. Finally, Odeon Capital Group assumed coverage on Citigroup in a research note on Wednesday, March 27th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Citigroup currently has an average rating of “Buy” and a consensus price target of $80.61.

Shares of C traded up $0.61 during midday trading on Tuesday, reaching $67.99. 365,902 shares of the stock were exchanged, compared to its average volume of 14,761,898. Citigroup has a 52 week low of $48.42 and a 52 week high of $75.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $173.33 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.80 and a beta of 1.68.

Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The business had revenue of $18.58 billion for the quarter, compared to the consensus estimate of $18.56 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Citigroup will post 7.42 EPS for the current year.

In other Citigroup news, insider Michael Whitaker sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $63.24, for a total value of $442,680.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider W. Bradford Hu sold 5,420 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $64.27, for a total value of $348,343.40. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Steinberg Global Asset Management grew its stake in shares of Citigroup by 26.9% in the first quarter. Steinberg Global Asset Management now owns 20,857 shares of the financial services provider’s stock valued at $1,408,000 after buying an additional 4,418 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Citigroup by 1.5% in the first quarter. Hodges Capital Management Inc. now owns 17,661 shares of the financial services provider’s stock valued at $1,099,000 after buying an additional 267 shares in the last quarter. Quantitative Systematic Strategies LLC grew its stake in shares of Citigroup by 69.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 32,877 shares of the financial services provider’s stock valued at $2,046,000 after buying an additional 13,453 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Citigroup in the first quarter valued at $245,000. Finally, Landsberg Bennett & Dubbaneh LLC grew its stake in shares of Citigroup by 39.5% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 6,899 shares of the financial services provider’s stock valued at $449,000 after buying an additional 1,952 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Analyst Recommendations for Citigroup (NYSE:C)

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