Citigroup (NYSE:C) Price Target Raised to $100.00

Citigroup (NYSE:C) had its price target lifted by Barclays from $95.00 to $100.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Bank of America increased their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.46.

Citigroup Stock Up 0.4%

Shares of Citigroup stock opened at $93.44 on Wednesday. The company has a market cap of $174.52 billion, a P/E ratio of 13.80, a PEG ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. Citigroup has a one year low of $53.51 and a one year high of $93.80. The firm has a fifty day moving average of $80.43 and a two-hundred day moving average of $75.45.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup’s payout ratio is presently 33.09%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in C. Norges Bank bought a new stake in shares of Citigroup in the fourth quarter worth $1,935,599,000. Capital World Investors increased its stake in Citigroup by 455.2% during the fourth 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 during the last quarter. Goldman Sachs Group Inc. increased its stake in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the last quarter. Nuveen LLC bought a new stake in Citigroup during the first quarter valued at $578,100,000. Finally, FMR LLC increased its stake in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.