Citigroup’s (C) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Citigroup (NYSE:C) in a report published on Wednesday morning,Benzinga reports. They currently have a $77.00 price objective on the stock, down from their prior price objective of $83.00.

Several other research analysts have also recently issued reports on the company. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $84.61.

Citigroup Trading Up 1.8 %

NYSE C opened at $63.23 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $119.01 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.64 and a beta of 1.29. The firm has a 50 day simple moving average of $71.12 and a 200-day simple moving average of $70.92. Citigroup has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities research analysts anticipate that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Several institutional investors have recently modified their holdings of the company. Clarius Group LLC raised its holdings in shares of Citigroup by 101.8% during the first quarter. Clarius Group LLC now owns 20,164 shares of the company’s stock valued at $1,431,000 after acquiring an additional 10,171 shares during the period. GSB Wealth Management LLC raised its stake in shares of Citigroup by 39.5% in the 1st quarter. GSB Wealth Management LLC now owns 4,080 shares of the company’s stock valued at $290,000 after acquiring an additional 1,155 shares in the last quarter. Marest Capital LLC lifted its stake in shares of Citigroup by 9.9% in the first quarter. Marest Capital LLC now owns 8,326 shares of the company’s stock worth $591,000 after buying an additional 753 shares during the last quarter. Global Trust Asset Management LLC lifted its position in Citigroup by 263.2% during the 1st quarter. Global Trust Asset Management LLC now owns 2,575 shares of the company’s stock worth $183,000 after acquiring an additional 1,866 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in Citigroup by 3.0% during the 1st quarter. Insigneo Advisory Services LLC now owns 27,933 shares of the company’s stock valued at $1,983,000 after purchasing an additional 824 shares during the period. 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.