Citigroup (NYSE:C) PT Raised to $85.00

Citigroup (NYSE:C) had its price target upped by Bank of America from $78.00 to $85.00 in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 11.67% from the stock’s current price.

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Several other research analysts have also weighed in on the company. Wells Fargo & Co set a $85.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. Barclays increased their target price on Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Vining Sparks raised Citigroup to a “buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Citigroup from $77.50 to $84.50 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $80.57.

Shares of Citigroup stock traded up $0.31 during trading hours on Thursday, reaching $76.12. 7,828,118 shares of the company’s stock were exchanged, compared to its average volume of 14,431,004. Citigroup has a 52-week low of $48.42 and a 52-week high of $76.28. The firm has a market capitalization of $163.37 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80. The company has a fifty day moving average of $70.76 and a 200-day moving average of $68.30. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.12. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The company had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup will post 7.58 earnings per share for the current fiscal year.

In related news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares in the company, valued at approximately $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Personal Wealth Partners acquired a new stake in shares of Citigroup during the second quarter valued at about $27,000. Centaurus Financial Inc. grew its stake in shares of Citigroup by 95.1% during the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 835 shares in the last quarter. Mcmillion Capital Management Inc. acquired a new stake in shares of Citigroup during the second quarter valued at about $31,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Citigroup during the third quarter valued at about $33,000. Finally, Bray Capital Advisors grew its stake in shares of Citigroup by 257.4% during the second quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 76.63% of the company’s stock.

About Citigroup

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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