Citigroup (NYSE:C) Price Target Raised to $79.00

Citigroup (NYSE:C) had its target price boosted by Evercore ISI from $69.00 to $79.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday. Finally, Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 2.0 %

NYSE:C opened at $80.05 on Thursday. The firm’s 50 day moving average is $71.22 and its 200 day moving average is $65.52. Citigroup has a 12 month low of $50.51 and a 12 month high of $80.45. The stock has a market capitalization of $151.40 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. 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 issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Sell-side analysts expect that Citigroup will post 5.88 earnings per share for the current year.

Citigroup announced that its board has initiated a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. Citigroup’s dividend payout ratio is presently 64.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new position in Citigroup during the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup during the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 3rd quarter worth $31,000. GHP Investment Advisors Inc. lifted its stake in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

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.