Oppenheimer Lowers Citigroup (NYSE:C) Price Target to $102.00

Citigroup (NYSE:C) had its price objective cut by Oppenheimer from $110.00 to $102.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods increased their price objective on Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley lowered their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Bank of America upped their target price on Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Barclays boosted 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 given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.

Citigroup Stock Performance

Citigroup stock opened at $71.00 on Friday. The company has a market cap of $134.28 billion, a PE ratio of 20.58, a P/E/G ratio of 0.80 and a beta of 1.45. Citigroup has a 12 month low of $50.51 and a 12 month high of $73.38. The company has a fifty day moving average price of $69.33 and a two-hundred day moving average price of $64.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts expect that Citigroup will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed 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 3.15%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Investors Weigh In On Citigroup

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

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.