Citigroup (NYSE:C) Sets New 1-Year High Following Analyst Upgrade

by · The Cerbat Gem

Citigroup Inc. (NYSE:C – Get Free Report) shares hit a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $94.00 to $103.00. Morgan Stanley currently has an overweight rating on the stock. Citigroup traded as high as $86.48 and last traded at $86.26, with a volume of 17083523 shares. The stock had previously closed at $85.12.

Several other equities analysts also recently weighed in on C. Bank of America lifted their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a research note on Tuesday, May 20th. The Goldman Sachs Group raised their price objective on Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank Of Canada decreased their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.43.

Read Our Latest Stock Analysis on Citigroup

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director owned 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the 1st quarter valued at about $29,000. Accent Capital Management LLC increased its position in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.2%

The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50-day moving average of $76.22 and a 200 day moving average of $74.04. The stock has a market capitalization of $165.61 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.67 and a beta of 1.34.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Company Profile

(Get Free Report)

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.

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