Citigroup (NYSE:C) Reaches New 52-Week High on Analyst Upgrade

Citigroup Inc. (NYSE:C) shares reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $73.00 to $80.00. Piper Sandler currently has an overweight rating on the stock. Citigroup traded as high as $71.34 and last traded at $71.26, with a volume of 402170 shares traded. The stock had previously closed at $70.87.

A number of other brokerages also recently issued reports on C. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group cut their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays raised their target price on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Oppenheimer increased their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Hedge Funds Weigh In On Citigroup

Large investors have recently bought and sold shares of the business. Mather Group LLC. increased its holdings in Citigroup by 88.5% in the 2nd quarter. Mather Group LLC. now owns 5,622 shares of the company’s stock worth $356,000 after acquiring an additional 2,639 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Citigroup by 8.6% in the 2nd quarter. Park Avenue Securities LLC now owns 60,143 shares of the company’s stock worth $3,817,000 after buying an additional 4,772 shares during the last quarter. CWM LLC increased its stake in Citigroup by 14.9% during the 2nd quarter. CWM LLC now owns 65,804 shares of the company’s stock worth $4,176,000 after buying an additional 8,549 shares in the last quarter. RDA Financial Network raised its holdings in shares of Citigroup by 7.2% during the second quarter. RDA Financial Network now owns 3,507 shares of the company’s stock valued at $223,000 after acquiring an additional 237 shares during the last quarter. Finally, TTP Investments Inc. purchased a new position in shares of Citigroup in the second quarter valued at approximately $354,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $135.07 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The stock has a 50 day moving average price of $65.67 and a 200-day moving average price of $63.19.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. On average, analysts forecast that Citigroup Inc. will post 5.85 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 3.14%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

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.