Citigroup (NYSE:C) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Citigroup (NYSE:C) had its price target upped by stock analysts at Wells Fargo & Company from $85.00 to $95.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 39.44% from the company’s previous close.

A number of other equities research analysts have also recently commented on C. Morgan Stanley lowered their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Bank of America upped their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer upped their price target on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Price Performance

NYSE:C opened at $68.13 on Friday. The firm’s 50-day simple moving average is $63.02 and its 200 day simple moving average is $62.54. The firm has a market cap of $128.85 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup has a 52 week low of $44.32 and a 52 week high of $70.20.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the business earned $1.52 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup will post 5.85 earnings per share for the current year.

Institutional Trading of Citigroup

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its stake in Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares in the last quarter. BDF Gestion acquired a new stake in shares of Citigroup during the 2nd quarter valued at about $3,861,000. Chesley Taft & Associates LLC acquired a new position in Citigroup during the second quarter worth $735,000. Finally, Summit Global Investments boosted its holdings in shares of Citigroup by 289.5% in the 3rd quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $1,918,000 after acquiring an additional 22,774 shares in the last quarter. Institutional investors and hedge funds 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.