Citigroup Inc. (NYSE:C) to Issue $0.56 Quarterly Dividend

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.56 per share on Friday, February 28th. This represents a $2.24 annualized dividend and a yield of 3.04%.

Citigroup has increased its dividend by an average of 2.2% per year over the last three years. Citigroup has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Citigroup to earn $7.19 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 31.2%.

Citigroup Stock Performance

Shares of C opened at $73.59 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day moving average is $70.60 and its 200-day moving average is $65.22. Citigroup has a 12-month low of $50.51 and a 12-month high of $74.29. The stock has a market capitalization of $139.18 billion, a P/E ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Equities research analysts anticipate that Citigroup will post 5.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Piper Sandler upped their price objective on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. 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 research report on Friday, January 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

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.