Oppenheimer Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

by · The Cerbat Gem

Citigroup (NYSE:C – Get Free Report) had its target price upped by research analysts at Oppenheimer from $91.00 to $94.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 38.32% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley reduced their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Bank of America reduced their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.04.

View Our Latest Report on Citigroup

Citigroup Price Performance

Shares of Citigroup stock traded down $0.47 on Monday, reaching $67.96. 4,624,397 shares of the stock were exchanged, compared to its average volume of 14,384,910. Citigroup has a one year low of $53.51 and a one year high of $84.74. The firm has a market cap of $127.91 billion, a PE ratio of 11.42, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50 day moving average is $69.38 and its 200-day moving average is $71.15.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, analysts anticipate that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by company insiders.

Institutional Trading of Citigroup

Hedge funds and other institutional investors have recently modified their holdings of the business. Core Alternative Capital lifted its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter worth $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the first quarter valued at $28,000. American National Bank & Trust purchased a new position in Citigroup during the first quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in Citigroup in the 4th quarter worth about $34,000. Institutional investors own 71.72% of the company’s stock.

About Citigroup

(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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