Oppenheimer Boosts Citigroup (NYSE:C) Price Target to $86.00

Citigroup (NYSE:C) had its price target hoisted by Oppenheimer from $85.00 to $86.00 in a report released on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

C has been the subject of several other reports. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an overweight rating in a research note on Monday. BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the stock a market perform rating in a report on Thursday, July 11th. Morgan Stanley boosted their price objective on shares of Citigroup from $65.00 to $66.00 and gave the company an overweight rating in a report on Monday. Jefferies Financial Group lifted their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a hold rating in a research note on Monday, April 8th. Finally, StockNews.com upgraded shares of Citigroup from a sell rating to a hold rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $66.27.

Citigroup Price Performance

C stock opened at $67.61 on Monday. The firm has a market capitalization of $128.95 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 0.93 and a beta of 1.46. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The firm has a 50 day moving average of $62.93 and a 200-day moving average of $59.27. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.37 earnings per share. As a group, sell-side analysts predict that Citigroup will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Citigroup in the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC purchased a new position in Citigroup during the 4th quarter worth $29,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at about $35,000. 71.72% of the stock is owned by hedge funds and other 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.