Citigroup (NYSE:C) Sets New 52-Week High Following Analyst Upgrade

Citigroup Inc. (NYSE:C) shares reached a new 52-week high during trading on Monday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $95.00 price target on the stock, up from their previous price target of $70.00. Citigroup traded as high as $73.73 and last traded at $73.57, with a volume of 7752924 shares trading hands. The stock had previously closed at $71.00.

A number of other equities analysts have also recently weighed in on the company. Piper Sandler upped their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI raised their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Oppenheimer dropped 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. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.43.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lifestyle Asset Management Inc. increased its position in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after acquiring an additional 170 shares in the last quarter. MWA Asset Management increased its stake in Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares during the period. Bridge Creek Capital Management LLC lifted its position in 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 purchasing an additional 175 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Citigroup by 9.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after acquiring an additional 175 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

The company has a market cap of $139.27 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The business has a fifty day moving average price of $69.33 and a 200 day moving average price of $64.65.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating 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 company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the business posted $1.52 EPS. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.04%. Citigroup’s dividend payout ratio is 64.93%.

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.