Brokerages Set Citigroup Inc. (NYSE:C) Target Price at $68.69

Shares of Citigroup Inc. (NYSE:C) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $69.06.

A number of research analysts recently weighed in on C shares. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley upped their price objective on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th.

Citigroup Stock Down 1.2 %

Shares of NYSE C opened at $61.31 on Tuesday. Citigroup has a 52-week low of $38.17 and a 52-week high of $67.81. The business’s 50 day moving average is $60.66 and its two-hundred day moving average is $61.74. The firm has a market cap of $116.95 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.69 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Research analysts predict that Citigroup will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 62.75%.

Institutional Investors Weigh In On Citigroup

Several large investors have recently modified their holdings of the company. Lloyd Advisory Services LLC. grew its holdings in shares of Citigroup by 355.9% during the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after buying an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Citigroup by 13.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC raised its stake in shares of Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares during the last quarter. Capital World Investors grew its position in Citigroup by 9.1% in the 4th quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock valued at $215,398,000 after buying an additional 350,087 shares during the last quarter. Finally, BDF Gestion acquired a new position in Citigroup in the 2nd quarter valued at $3,861,000. 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.