The Goldman Sachs Group Has Lowered Expectations for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C - Get Free Report) had its price objective decreased by investment analysts at The Goldman Sachs Group from $90.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 11.21% from the stock's current price.

A number of other brokerages also recently weighed in on C. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler reiterated an "overweight" rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.53.

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Citigroup Stock Up 0.2 %

C stock traded up $0.11 during mid-day trading on Wednesday, reaching $71.93. 21,720,996 shares of the company traded hands, compared to its average volume of 13,298,404. The stock has a market cap of $135.56 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm's 50 day moving average price is $77.46 and its 200 day moving average price is $70.32.

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

Citigroup announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 sale, the insider now owns 109,780 shares of the company's stock, valued at approximately $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. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Citigroup

Institutional investors have recently bought and sold shares of the stock. Core Alternative Capital boosted its position in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Orion Capital Management LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter valued at approximately $31,000. Webster Bank N. A. boosted its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Finally, Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $35,000. 71.72% of the stock is 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.