10 Best Blue Chip Stocks Under $100

3) Citigroup, Inc. (NYSE:C)

Share Price as of August 16, 2024: US$61.40

Average Upside Potential: 18.89%

Citigroup, Inc. (NYSE:C) is a global financial services company, with operations organized into 2 primary segments: the global consumer banking segment and the institutional clients group.

The banking company has a wide economic moat. Its Services business should continue to act as a strong asset, with a healthy share in high-margin treasury services. This business handles more than $5 trillion in payments a day, and the leading lender benefits from having banking licenses globally. This enables Citigroup, Inc. (NYSE:C) to offer payment and other services to Fortune 500 clients. The bank has a healthy overall leverage to volume growth as a result of global payments and investment activity.

Its treasury and trade Solutions (TTS) and securities services business are tailored to address the complex needs of multinational corporations, and public sector organizations. Citigroup, Inc. (NYSE:C)’s restructuring efforts continue, which are tackling regulatory challenges and building capital in expectation of higher requirements. Experts believe that the banking company should see a significant decline in expenses for the remainder of 2024.

Analysts at Oppenheimer upped their price target on shares of Citigroup, Inc. (NYSE:C) from $85.00 to $86.00, giving an “Outperform” rating on 15^th July. As of the end of the first quarter, 94 out of 920 hedge funds tracked by the Insider Monkey database were long Citigroup, Inc. (NYSE:C).

Diamond Hill Capital, an investment management company, released its first-quarter 2024 investor letter. Here is what the fund said:

“Other top Q1 contributors included Meta Platforms, Citigroup Inc. (NYSE:C) and Walt Disney. Banking and financial services company Citigroup’s restructuring efforts are ongoing, and it continues remediating regulatory issues and building capital in anticipation of increased requirements. The company expects to see expenses fall meaningfully in the second half of 2024, bolstering the outlook from here.”