Truist Financial Issues Pessimistic Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C - Get Free Report) had its price target decreased by stock analysts at Truist Financial from $84.00 to $79.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 24.94% from the company's current price.

A number of other research firms have also recently weighed in on C. Bank of America lowered their target price 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. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. JPMorgan Chase & Co. lowered their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Finally, Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four 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, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $84.61.

Citigroup Stock Performance

Shares of NYSE:C traded up $1.13 during trading on Wednesday, hitting $63.23. The company's stock had a trading volume of 14,653,830 shares, compared to its average volume of 14,419,522. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $119.01 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a 50-day moving average of $71.12 and a 200-day moving average of $70.92. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results 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 net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. On average, sell-side analysts expect that Citigroup will post 7.53 earnings per share for the current year.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup 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 owns 229,180 shares of the company's stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company's stock.

Institutional Trading of Citigroup

Several institutional investors and hedge funds have recently made changes to their positions in C. Core Alternative Capital lifted its position in shares of 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 during the period. Orion Capital Management LLC bought a new position in shares of Citigroup in the 4th quarter worth $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup during the 1st quarter worth $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup during the fourth quarter valued at about $34,000. Finally, Webster Bank N. A. grew its stake in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.