Piper Sandler Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its price objective increased by Piper Sandler from $73.00 to $80.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also recently commented on C. Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $82.00 in a report on Tuesday. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted 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. Oppenheimer raised their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Barclays upped their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Citigroup Stock Performance

Shares of NYSE:C opened at $72.23 on Tuesday. 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 has a 12 month low of $47.71 and a 12 month high of $72.85. The company has a market capitalization of $136.61 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.80 and a beta of 1.45. The firm’s 50-day moving average is $65.89 and its 200 day moving average is $63.25.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share 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 firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Citigroup will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.10%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Institutional Investors Weigh In On Citigroup

Hedge funds have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas acquired a new stake in shares of Citigroup in the third quarter valued at about $614,000. Inspire Trust Co. N.A. boosted its position in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Citigroup by 160.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 1,560 shares of the company’s stock valued at $98,000 after purchasing an additional 961 shares in the last quarter. Old North State Trust LLC grew its holdings in Citigroup by 10.9% in the 3rd quarter. Old North State Trust LLC now owns 4,835 shares of the company’s stock valued at $303,000 after buying an additional 474 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 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.