Citigroup (NYSE:C) Price Target Raised to $107.00

Citigroup (NYSE:C) had its price objective hoisted by Morgan Stanley from $103.00 to $107.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently issued reports on C. Evercore ISI set a $77.00 price objective on shares of Citigroup in a report on Monday, July 7th. JPMorgan Chase & Co. decreased their price objective 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. Truist Financial upped their price objective on shares of Citigroup from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Oppenheimer reiterated an “outperform” rating on shares of Citigroup in a report on Monday, July 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.46.

Citigroup Trading Up 0.4%

Citigroup stock opened at $93.44 on Wednesday. The company’s fifty day simple moving average is $80.43 and its 200-day simple moving average is $75.45. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup has a 12 month low of $53.51 and a 12 month high of $93.80. The stock has a market cap 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 posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. As a group, sell-side analysts forecast that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

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

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction 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 sale, the director owned 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company’s stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter worth about $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the first quarter worth about $28,000. Accent Capital Management LLC grew its stake in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. American National Bank & Trust bought a new stake in Citigroup during the first quarter worth about $29,000. Finally, Truvestments Capital LLC grew its stake in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds 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.