Brokerages Set Citigroup Inc. (NYSE:C) Target Price at $83.93

Citigroup Inc. (NYSE:C) has been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $83.93.

Several equities research analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors have recently bought and sold shares of C. Core Alternative Capital boosted its position in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Citigroup during the 4th quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth about $31,000. Webster Bank N. A. raised its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the 4th quarter worth about $35,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C opened at $70.40 on Friday. The business’s fifty day moving average price is $77.91 and its 200 day moving average price is $69.60. Citigroup has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a market capitalization of $132.67 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts forecast that Citigroup will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.18%. Citigroup’s dividend payout ratio is currently 37.65%.

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.