Citigroup (NYSE:C) Price Target Raised to $85.00

Citigroup (NYSE:C) had its price target raised by Keefe, Bruyette & Woods from $82.00 to $85.00 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other equities analysts have also commented on C. Bank of America boosted their price objective on Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Oppenheimer raised their price objective on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI upped 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. Finally, Piper Sandler raised their price target on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $77.64.

Citigroup Trading Up 1.5 %

Shares of Citigroup stock opened at $71.00 on Friday. Citigroup has a 12-month low of $50.51 and a 12-month high of $73.38. The stock has a market capitalization of $134.28 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The company has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $64.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. Research analysts expect that Citigroup will post 5.86 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of C. Inspire Trust Co. N.A. increased its stake in Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares in the last quarter. KBC Group NV raised its stake in Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Citigroup by 4.9% during the third quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock worth $24,710,000 after acquiring an additional 18,278 shares in the last quarter. Finally, Summit Global Investments grew its stake in Citigroup by 289.5% in the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after acquiring an additional 22,774 shares during the period. Institutional investors own 71.72% of the company’s stock.

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.