Piper Sandler Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price increased by Piper Sandler from $73.00 to $80.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $82.00 in a report on Tuesday. Barclays boosted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI raised their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Citigroup Price Performance

Shares of NYSE:C opened at $71.42 on Tuesday. The business has a 50 day moving average price of $65.67 and a 200 day moving average price of $63.19. Citigroup has a twelve month low of $46.40 and a twelve month high of $72.80. The company has a market cap of $135.07 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the company earned $1.52 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that Citigroup will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Trading of Citigroup

Several institutional investors and hedge funds have recently made changes to their positions in C. MONECO Advisors LLC grew its stake in shares of Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares during the period. Lifestyle Asset Management Inc. grew its stake in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the period. Legacy Capital Group California Inc. boosted its holdings in shares of Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after buying an additional 169 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after buying an additional 170 shares during the last quarter. Finally, MWA Asset Management boosted its holdings in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

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.