Citigroup (NYSE:C) Earns Hold Rating from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Citigroup (NYSE:C) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued a hold rating and a $83.00 price objective on the stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.97.

Citigroup Trading Down 0.4%

Shares of C opened at $75.66 on Thursday. Citigroup has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a market cap of $141.31 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.64 and a beta of 1.30. The firm has a 50 day moving average price of $68.12 and a 200-day moving average price of $71.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Dividend Announcement

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 paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.96%. Citigroup’s payout ratio is currently 35.39%.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the 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 sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Citigroup

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the period. FMR LLC boosted its holdings in shares of Citigroup by 29.7% in 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. grew its position in Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the period. Finally, Capital World Investors increased its holdings 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 buying an additional 25,705,141 shares during the last quarter. Hedge funds and other institutional investors 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.