Citigroup (NYSE:C) Given New $115.00 Price Target at Wells Fargo & Company

Citigroup (NYSE:C) had its price target increased by Wells Fargo & Company from $110.00 to $115.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on C. Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wall Street Zen cut Citigroup from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. UBS Group reiterated a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday. Cowen started coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. Finally, Truist Financial increased their target price on Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.46.

Citigroup Stock Up 0.4%

C stock opened at $93.44 on Wednesday. Citigroup has a 1-year low of $53.51 and a 1-year high of $93.80. The business has a fifty day moving average price of $80.43 and a 200-day moving average price of $75.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $174.52 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.68 and a beta of 1.34.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. Citigroup’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. Equities analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is currently 33.09%.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director directly owned 13,048 shares of the company’s stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors and hedge funds have recently bought and sold shares of C. Norges Bank bought a new stake in Citigroup during the 4th quarter valued at $1,935,599,000. Capital World Investors raised its position in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares during the period. Nuveen LLC purchased a new position in shares of Citigroup in the 1st quarter valued at $578,100,000. Finally, FMR LLC increased its holdings in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. 71.72% of the stock is owned by institutional investors.

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.