Citigroup Inc. (NYSE:C) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Citigroup Inc. (NYSE:C) have received an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $67.25.

Several equities analysts recently commented on C shares. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. HSBC boosted their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th.

Hedge Funds Weigh In On Citigroup

A number of hedge funds have recently added to or reduced their stakes in C. Prossimo Advisors LLC purchased a new stake in shares of Citigroup during the second quarter valued at $395,000. Aaron Wealth Advisors LLC grew its stake in shares of Citigroup by 21.5% in the second quarter. Aaron Wealth Advisors LLC now owns 7,038 shares of the company’s stock worth $447,000 after acquiring an additional 1,247 shares during the period. Krilogy Financial LLC raised its holdings in shares of Citigroup by 14.3% during the second quarter. Krilogy Financial LLC now owns 11,596 shares of the company’s stock valued at $736,000 after purchasing an additional 1,449 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Citigroup by 7.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 13,401 shares of the company’s stock valued at $851,000 after purchasing an additional 907 shares during the period. Finally, Legacy Capital Group California Inc. boosted its holdings in Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $64.50 on Thursday. The stock has a market cap of $123.03 billion, a P/E ratio of 18.07, a PEG ratio of 0.71 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average price is $63.02 and its two-hundred day moving average price is $59.56. Citigroup has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Citigroup will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.47%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s dividend payout ratio is 59.38%.

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.