Citigroup (NYSE:C) PT Raised to $70.00 at Piper Sandler

Citigroup (NYSE:C) had its price target lifted by Piper Sandler from $67.00 to $70.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

C has been the subject of several other research reports. Daiwa Capital Markets upgraded shares of Citigroup from a neutral rating to a buy rating and set a $63.00 target price for the company in a report on Monday, December 18th. Societe Generale cut shares of Citigroup from a hold rating to a sell rating in a research note on Monday, January 8th. Oppenheimer cut their price target on shares of Citigroup from $88.00 to $87.00 and set an outperform rating for the company in a research note on Monday. Morgan Stanley upgraded shares of Citigroup from an underweight rating to an overweight rating and increased their price target for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group reiterated a buy rating on shares of Citigroup in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of Moderate Buy and an average target price of $62.91.

Citigroup Stock Up 2.0 %

Shares of C stock opened at $58.17 on Monday. The firm has a fifty day moving average of $58.11 and a 200-day moving average of $50.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a 12-month low of $38.17 and a 12-month high of $63.90. The company has a market capitalization of $111.41 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 0.92 and a beta of 1.52.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Citigroup will post 5.73 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is 62.72%.

Hedge Funds Weigh In On Citigroup

A number of hedge funds have recently bought and sold shares of the business. Dumont & Blake Investment Advisors LLC increased its position in Citigroup by 3.0% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 7,985 shares of the company’s stock worth $505,000 after acquiring an additional 235 shares during the period. New Mexico Educational Retirement Board increased its holdings in Citigroup by 13.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock valued at $7,300,000 after buying an additional 14,100 shares during the period. Griffin Asset Management Inc. increased its holdings in Citigroup by 63.6% in the 1st quarter. Griffin Asset Management Inc. now owns 26,163 shares of the company’s stock valued at $1,655,000 after buying an additional 10,172 shares during the period. Criterion Capital Advisors LLC increased its holdings in Citigroup by 21.9% in the 1st quarter. Criterion Capital Advisors LLC now owns 25,398 shares of the company’s stock valued at $1,606,000 after buying an additional 4,567 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in Citigroup by 27.1% in the 1st quarter. Kathmere Capital Management LLC now owns 9,005 shares of the company’s stock valued at $569,000 after buying an additional 1,920 shares during the period. 71.72% of the stock is owned by institutional investors.

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.