Citigroup (NYSE:C) Price Target Raised to $92.00

Citigroup (NYSE:C) had its price target boosted by Keefe, Bruyette & Woods from $85.00 to $92.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

C has been the subject of a number of other research reports. Bank of America boosted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler boosted their target price on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Evercore ISI raised their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned 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 target price of $83.93.

Citigroup Trading Up 2.0 %

NYSE:C opened at $80.05 on Thursday. The firm has a fifty day simple moving average of $71.22 and a two-hundred day simple moving average of $65.52. Citigroup has a 12 month low of $50.51 and a 12 month high of $80.45. The stock has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Citigroup will post 5.88 EPS for the current fiscal year.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

Hedge Funds Weigh In On Citigroup

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Citigroup by 2.3% in the second quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock worth $21,538,000 after purchasing an additional 7,778 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Citigroup by 17.1% in the 2nd quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock worth $1,101,000 after buying an additional 2,539 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Citigroup by 20.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company’s stock valued at $14,667,000 after buying an additional 39,725 shares in the last quarter. Argent Trust Co raised its holdings in Citigroup by 2.5% during the 2nd quarter. Argent Trust Co now owns 57,575 shares of the company’s stock valued at $3,654,000 after acquiring an additional 1,394 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Citigroup by 3.8% during the second quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock worth $9,622,000 after acquiring an additional 5,481 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

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.