Bank of America Raises Citigroup (NYSE:C) Price Target to $78.00

Citigroup (NYSE:C) had its price target boosted by Bank of America from $77.00 to $78.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on C. Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Price Performance

NYSE:C opened at $62.85 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $119.87 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The business’s 50-day moving average is $61.35 and its 200 day moving average is $61.92.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup will post 5.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Legal & General Group Plc boosted its position in Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares in the last quarter. Greenhaven Associates Inc. boosted its position in Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Citigroup by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after acquiring an additional 168,070 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

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.