Citigroup (NYSE:C) Price Target Raised to $66.00

Citigroup (NYSE:C) had its price target lifted by Morgan Stanley from $65.00 to $66.00 in a report released on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on the company. Oppenheimer cut their target price on Citigroup from $87.00 to $86.00 and set an outperform rating on the stock in a research note on Tuesday, April 30th. Jefferies Financial Group raised their price target on Citigroup from $56.00 to $65.00 and gave the stock a hold rating in a report on Monday, April 8th. Piper Sandler raised their price target on Citigroup from $67.00 to $70.00 and gave the stock an overweight rating in a report on Monday, April 15th. Royal Bank of Canada raised their price target on Citigroup from $63.00 to $66.00 and gave the stock an outperform rating in a report on Monday, June 17th. Finally, Wells Fargo & Company reissued an overweight rating and issued a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $67.25.

Citigroup Price Performance

C opened at $64.89 on Monday. The business’s 50-day moving average is $62.96 and its two-hundred day moving average is $59.30. Citigroup has a 1 year low of $38.17 and a 1 year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. The firm has a market capitalization of $123.77 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Citigroup will post 5.82 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.45%. Citigroup’s payout ratio is 59.38%.

Institutional Investors Weigh In On Citigroup

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $29,000. Beacon Capital Management LLC lifted its holdings in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup in the second quarter valued at approximately $32,000. 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.