Truist Financial Initiates Coverage on Citigroup (NYSE:C)

Stock analysts at Truist Financial assumed coverage on shares of Citigroup (NYSE:C) in a report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $85.00 price target on the stock. Truist Financial’s target price points to a potential upside of 16.07% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America lifted their price objective on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Evercore ISI increased their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

Citigroup Price Performance

Shares of NYSE:C opened at $73.23 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. Citigroup has a 12 month low of $50.51 and a 12 month high of $74.29. The firm has a market capitalization of $138.50 billion, a P/E ratio of 21.23, a P/E/G ratio of 0.80 and a beta of 1.43. The company’s fifty day moving average price is $69.85 and its 200 day moving average price is $64.89.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. As a group, sell-side analysts predict that Citigroup will post 5.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citigroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Trust Co. N.A. raised its position in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares during the last quarter. KBC Group NV lifted its stake in Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after buying an additional 20,291 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Citigroup by 4.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock valued at $24,710,000 after buying an additional 18,278 shares during the last quarter. Finally, TCW Group Inc. increased its position in Citigroup by 8.6% during the third quarter. TCW Group Inc. now owns 338,816 shares of the company’s stock worth $21,210,000 after buying an additional 26,882 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Company Profile

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.