Citigroup (NYSE:C) Price Target Raised to $77.00

Citigroup (NYSE:C) had its price objective increased by JPMorgan Chase & Co. from $75.00 to $77.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on C. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a report on Thursday, May 9th. Bank of America set a $77.00 price objective on Citigroup and gave the stock a buy rating in a report on Monday, June 10th. Wells Fargo & Co set a $90.00 price objective on Citigroup and gave the stock a buy rating in a report on Friday, May 3rd. UBS Group decreased their price objective on Spotify from $182.00 to $180.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Finally, Oppenheimer set a $15.00 price objective on Strongbridge Biopharma and gave the stock a buy rating in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Citigroup has a consensus rating of Buy and an average price target of $79.18.

C opened at $71.61 on Tuesday. The firm has a market cap of $165.60 billion, a PE ratio of 10.77, a P/E/G ratio of 0.78 and a beta of 1.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $67.33. Citigroup has a 1-year low of $48.42 and a 1-year high of $75.24.

Citigroup (NYSE:C) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $18.58 billion for the quarter, compared to analysts’ expectations of $18.56 billion. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. As a group, equities analysts expect that Citigroup will post 7.54 earnings per share for the current fiscal year.

In other news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $69.33, for a total transaction of $2,079,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Affiance Financial LLC grew its stake in Citigroup by 10.3% in the second quarter. Affiance Financial LLC now owns 9,490 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 890 shares in the last quarter. One Capital Management LLC grew its stake in Citigroup by 1.4% in the second quarter. One Capital Management LLC now owns 42,205 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 589 shares in the last quarter. Patten & Patten Inc. TN grew its stake in Citigroup by 4.8% in the second quarter. Patten & Patten Inc. TN now owns 114,284 shares of the financial services provider’s stock worth $8,003,000 after purchasing an additional 5,265 shares in the last quarter. Heritage Investors Management Corp grew its stake in Citigroup by 0.9% in the second quarter. Heritage Investors Management Corp now owns 206,007 shares of the financial services provider’s stock worth $14,427,000 after purchasing an additional 1,827 shares in the last quarter. Finally, Ullmann Financial Group Inc. acquired a new position in Citigroup in the second quarter worth about $200,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

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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