Citigroup (NYSE:C) Price Target Raised to $95.00

Citigroup (NYSE:C) had its target price lifted by Bank of America from $90.00 to $95.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on C. The Goldman Sachs Group lifted their target price on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI increased their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial assumed coverage on Citigroup in a research report on Tuesday. They set a “buy” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

Citigroup Price Performance

Shares of NYSE C opened at $73.63 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $69.68 and a 200 day moving average of $64.84. The firm has a market cap of $139.25 billion, a PE ratio of 21.34, a PEG ratio of 0.80 and a beta of 1.43. Citigroup has a one year low of $50.51 and a one year high of $74.29.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. As a group, research analysts predict that Citigroup will post 5.86 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Institutional Trading of Citigroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in C. Geode Capital Management LLC grew its stake in shares of Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after buying an additional 791,758 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Fisher Asset Management LLC grew its position in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Legal & General Group Plc increased its stake in Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. lifted its position in shares of Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares in the last quarter. Hedge funds and other institutional investors 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.