Citigroup (NYSE:C) Now Covered by Truist Financial

Truist Financial assumed coverage on shares of Citigroup (NYSE:C) in a report issued on Tuesday morning,Benzinga reports. The firm issued a buy rating and a $85.00 target price on the stock.

A number of other equities research analysts have also issued reports on the stock. Oppenheimer cut their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Piper Sandler raised their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a research note on Monday. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Stock Down 0.6 %

NYSE C opened at $73.23 on Tuesday. Citigroup has a 52 week low of $50.51 and a 52 week high of $74.29. The company has a market capitalization of $138.50 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The stock’s 50-day moving average price is $70.03 and its 200-day moving average price is $64.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Citigroup will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.06%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Hedge Funds Weigh In On Citigroup

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

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.