Citigroup (NYSE:C) Reaches New 52-Week High on Analyst Upgrade

Shares of Citigroup Inc. (NYSE:C) reached a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $60.00 to $62.00. Evercore ISI currently has an in-line rating on the stock. Citigroup traded as high as $65.02 and last traded at $64.70, with a volume of 1310087 shares changing hands. The stock had previously closed at $64.68.

C has been the topic of a number of other research reports. HSBC upped their target price on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Citigroup in a report on Thursday, June 20th. Royal Bank of Canada raised their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Piper Sandler upped their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.16.

Hedge Funds Weigh In On Citigroup

Several large investors have recently modified their holdings of C. Kentucky Retirement Systems increased its holdings in Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after buying an additional 3,808 shares in the last quarter. Simplicity Solutions LLC raised its holdings in shares of Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after purchasing an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Citigroup by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after purchasing an additional 449,310 shares during the period. GFS Advisors LLC purchased a new stake in Citigroup in the fourth quarter worth approximately $2,003,000. Finally, TD Asset Management Inc grew its position in Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after purchasing an additional 173,137 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

The firm has a market capitalization of $122.95 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The business’s 50 day simple moving average is $62.19 and its two-hundred day simple moving average is $58.23.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 EPS. Research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

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.