Citigroup (NYSE:C) Stock Price Expected to Rise, Piper Sandler Analyst Says

Citigroup (NYSE:C) had its price target boosted by research analysts at Piper Sandler from $73.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 11.92% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $82.00 in a research report on Tuesday. Morgan Stanley reduced their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Oppenheimer lifted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Bank of America lifted their price target on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Citigroup Stock Performance

NYSE:C opened at $71.48 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day simple moving average of $65.89 and a two-hundred day simple moving average of $63.25. Citigroup has a 1 year low of $46.40 and a 1 year high of $72.80. The company has a market capitalization of $135.19 billion, a P/E ratio of 20.72, a P/E/G ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Citigroup will post 5.85 earnings per share for the current year.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the last quarter. Caxton Associates LP lifted its stake in shares of Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after acquiring an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the period. Institutional investors 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.