Citigroup (NYSE:C) Sets New 1-Year High – What’s Next?

Shares of Citigroup Inc. (NYSE:C) reached a new 52-week high on Tuesday . The company traded as high as $73.38 and last traded at $72.93, with a volume of 3958389 shares traded. The stock had previously closed at $71.86.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on C. Barclays lifted their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $82.00 in a report on Tuesday, December 3rd. Piper Sandler upped their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.63.

Citigroup Trading Up 1.4 %

The firm’s 50-day simple moving average is $66.50 and its 200 day simple moving average is $63.42. The stock has a market cap of $137.84 billion, a P/E ratio of 21.14, a PEG ratio of 0.81 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.07%. Citigroup’s payout ratio is 64.93%.

Hedge Funds Weigh In On Citigroup

Several hedge funds have recently modified their holdings of C. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the period. Caxton Associates LP increased its stake in Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after purchasing an additional 1,937,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

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.