Citigroup’s (C) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Citigroup (NYSE:C) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $83.00 price target on the stock, up from their prior price target of $80.00.

C has been the topic of a number of other reports. Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley dropped their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

C opened at $80.05 on Thursday. The company has a 50 day simple moving average of $71.22 and a two-hundred day simple moving average of $65.52. 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 has a market cap of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. Citigroup has a 1-year low of $50.51 and a 1-year high of $80.45.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Citigroup will post 5.88 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Secure Asset Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $238,000. Donoghue Forlines LLC purchased a new position in Citigroup during the 4th quarter valued at $1,520,000. Whalen Wealth Management Inc. bought a new position in Citigroup in the 4th quarter valued at $937,000. Avior Wealth Management LLC increased its stake in Citigroup by 16.0% in the fourth quarter. Avior Wealth Management LLC now owns 55,111 shares of the company’s stock worth $3,879,000 after purchasing an additional 7,604 shares during the period. Finally, Mutual Advisors LLC lifted its position in shares of Citigroup by 8.8% during the fourth quarter. Mutual Advisors LLC now owns 17,581 shares of the company’s stock worth $1,238,000 after purchasing an additional 1,418 shares during the last quarter. 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.