Citigroup (NYSE:C) Given New $150.00 Price Target at UBS Group

Citigroup (NYSE:C) had its price objective upped by analysts at UBS Group from $134.00 to $150.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 4.37% from the stock’s previous close.

Several other equities research analysts have also weighed in on C. Morgan Stanley lifted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Finally, Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.71.

Citigroup Trading Down 0.1%

NYSE:C opened at $143.71 on Tuesday. Citigroup has a 12 month low of $85.48 and a 12 month high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $132.80 and its 200 day moving average is $122.17. The stock has a market capitalization of $245.11 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business posted $1.96 earnings per share. Sell-side analysts expect that Citigroup will post 10.83 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Citigroup

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hobart Private Capital LLC bought a new position in Citigroup in the 2nd quarter worth about $222,000. Somerset Trust Co boosted its position in shares of Citigroup by 0.6% during the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock valued at $2,093,000 after acquiring an additional 82 shares during the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Citigroup by 25.8% during the second quarter. Dogwood Wealth Management LLC now owns 634 shares of the company’s stock worth $89,000 after purchasing an additional 130 shares in the last quarter. Boltwood Capital Management increased its position in shares of Citigroup by 21.5% in the second quarter. Boltwood Capital Management now owns 5,834 shares of the company’s stock worth $817,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its position in shares of Citigroup by 139.9% in the second quarter. Cedar Mountain Advisors LLC now owns 698 shares of the company’s stock worth $98,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: JPMorgan raised its price target on Citigroup to $149 from $135.50 and reiterated an Overweight rating, signaling confidence in further upside ahead of earnings. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Analysts expect U.S. bank earnings, including Citigroup (C), to benefit from a surge in sales and trading revenue and solid M&A advisory fees, helped in part by the blockbuster SpaceX IPO. Reuters article on Wall Street bank earnings
• Positive Sentiment: Citigroup was highlighted in a broader bullish note on big-bank stocks, with JPMorgan saying investment-banking and trading revenues may exceed prior guidance and lifting targets across the group. Yahoo Finance article on bank stocks rallying ahead of earnings
• Positive Sentiment: Citigroup also announced a new expansion in its commodities business by becoming a clearing member of London Precious Metals Clearing Limited, broadening its gold, silver, platinum and palladium settlement services. Business Wire article on Citi precious metals clearing
• Neutral Sentiment: Multiple pieces noted that Citigroup (C) is expected to report quarterly earnings on Tuesday, with consensus calling for higher EPS year over year; the report itself is the main near-term catalyst. American Banking News earnings preview
• Neutral Sentiment: Citigroup was also mentioned for appointing Citi as depositary bank for Vicore Pharma’s ADR program, a routine fee-generating services win with limited immediate stock impact. Yahoo Finance article on Vicore Pharma ADR appointment

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.