Brokerages Set Citigroup Inc. (NYSE:C) PT at $84.61

Shares of Citigroup Inc. (NYSE:C) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $84.61.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Truist Financial reduced their target price on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Royal Bank of Canada dropped their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd.

Citigroup Price Performance

Shares of C stock opened at $62.79 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm’s 50 day moving average is $70.75 and its 200-day moving average is $71.05. Citigroup has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a market capitalization of $118.18 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Sell-side analysts forecast that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.57%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Insider Transactions at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction 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. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Citigroup

Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Citigroup in the fourth quarter valued at approximately $1,935,599,000. Capital World Investors increased its position in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the period. FMR LLC raised its stake in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Finally, Swedbank AB boosted its position in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

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.