Citigroup (NYSE:C) Sets New 12-Month High After Analyst Upgrade

Citigroup Inc. (NYSE:CGet Free Report) reached a new 52-week high on Tuesday after Oppenheimer raised their price target on the stock from $93.00 to $95.00. Oppenheimer currently has an outperform rating on the stock. Citigroup traded as high as $55.72 and last traded at $55.55, with a volume of 6391882 shares changing hands. The stock had previously closed at $54.11.

Several other research firms also recently weighed in on C. Barclays lifted their target price on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group lifted their target price on Citigroup from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $65.00 in a research note on Tuesday. Evercore ISI decreased their price objective on Citigroup from $51.00 to $49.00 in a research note on Thursday, October 5th. Finally, Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.62.

View Our Latest Analysis on C

Institutional Investors Weigh In On Citigroup

A number of hedge funds have recently bought and sold shares of the business. Massachusetts Wealth Management grew its position in Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after purchasing an additional 192 shares in the last quarter. Founders Capital Management grew its position in Citigroup by 12.5% in the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after purchasing an additional 200 shares in the last quarter. Cowa LLC grew its position in Citigroup by 3.1% in the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after purchasing an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Citigroup by 5.6% in the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock valued at $198,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.

Citigroup Trading Down 1.6 %

The firm has a market cap of $107.50 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.47 and a beta of 1.57. The business’s 50-day moving average is $50.74 and its two-hundred day moving average is $45.44. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.95 and a quick ratio of 0.94.

Citigroup (NYSE:CGet Free Report) last released its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The business had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $18.71 billion. During the same period last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, February 2nd. Citigroup’s dividend payout ratio (DPR) is presently 53.13%.

Citigroup Company Profile

(Get Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

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