Citigroup (NYSE:C) Price Target Raised to $66.00

Citigroup (NYSE:C) had its price objective increased by Royal Bank of Canada from $63.00 to $66.00 in a research report released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on C. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $54.00 to $66.00 and gave the stock a market perform rating in a report on Friday, April 5th. Wells Fargo & Company restated an overweight rating and set a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Evercore ISI boosted their price objective on Citigroup from $58.00 to $60.00 and gave the stock an in-line rating in a report on Thursday, April 4th. The Goldman Sachs Group restated a buy rating on shares of Citigroup in a report on Monday, April 1st. Finally, HSBC lifted 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of Moderate Buy and an average target price of $64.84.

Citigroup Price Performance

Shares of NYSE C opened at $60.78 on Monday. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $64.98. The firm’s 50-day simple moving average is $61.68 and its 200 day simple moving average is $57.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market cap of $115.93 billion, a P/E ratio of 17.98, a P/E/G ratio of 0.90 and a beta of 1.48.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the previous year, the business earned $1.86 earnings per share. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts expect that Citigroup will post 5.96 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a $0.53 dividend. The ex-dividend date was Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.49%. Citigroup’s dividend payout ratio is 62.72%.

Institutional Investors Weigh In On Citigroup

Hedge funds have recently modified their holdings of the business. Orion Capital Management LLC bought a new position in Citigroup in the fourth quarter worth $26,000. Frazier Financial Advisors LLC bought a new position in Citigroup in the fourth quarter worth $29,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Citigroup during the fourth quarter worth $35,000. 71.72% of the stock is owned by institutional investors.

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.