Citigroup (NYSE:C) Price Target Lowered to $76.00 at Evercore ISI

Citigroup (NYSE:C - Get Free Report) had its price target cut by Evercore ISI from $79.00 to $76.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price objective indicates a potential upside of 8.28% from the company's current price.

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Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price objective for the company. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday. Piper Sandler restated an "overweight" rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lowered their price target on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.29.

View Our Latest Stock Analysis on Citigroup

Citigroup Price Performance

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Shares of NYSE C traded down $0.80 during trading on Tuesday, hitting $70.19. The company had a trading volume of 1,868,869 shares, compared to its average volume of 15,700,219. The business's 50-day moving average is $76.88 and its 200 day moving average is $70.91. The company has a market cap of $132.11 billion, a P/E ratio of 11.78, a PEG ratio of 0.64 and a beta of 1.43. Citigroup has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. Equities research analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

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Citigroup declared that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of C. Norges Bank bought a new position in Citigroup in the fourth quarter valued at about $1,935,599,000. Capital World Investors boosted its position in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC increased its holdings in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. lifted its stake in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock worth $586,120,000 after buying an additional 3,947,912 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

About Citigroup

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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