Oppenheimer Lowers Citigroup (NYSE:C) Price Target to $102.00

Citigroup (NYSE:C) had its price target cut by Oppenheimer from $110.00 to $102.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

C has been the topic of a number of other reports. The Goldman Sachs Group raised their price target on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley reduced their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI raised their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.64.

Citigroup Trading Up 1.5 %

Shares of NYSE:C opened at $71.00 on Friday. Citigroup has a fifty-two week low of $50.51 and a fifty-two week high of $73.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $134.28 billion, a PE ratio of 20.58, a P/E/G ratio of 0.80 and a beta of 1.45. The company’s 50-day moving average price is $69.33 and its 200 day moving average price is $64.65.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Citigroup will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio is 64.93%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in C. Lifestyle Asset Management Inc. increased its stake in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust increased its position in Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the last quarter. MWA Asset Management increased its position in Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after purchasing an additional 173 shares during the last quarter. Bridge Creek Capital Management LLC lifted its holdings in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after buying an additional 175 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Citigroup by 9.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after buying an additional 175 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.