Recent Analysts’ Ratings Changes for Citigroup (C)

Citigroup (NYSE: C) has recently received a number of price target changes and ratings updates:

• 7/15/2024 – Citigroup had its price target raised by analysts at Piper Sandler from $70.00 to $73.00. They now have an “overweight” rating on the stock.
• 7/15/2024 – Citigroup had its price target raised by analysts at Morgan Stanley from $65.00 to $66.00. They now have an “overweight” rating on the stock.
• 7/15/2024 – Citigroup had its price target raised by analysts at Oppenheimer Holdings Inc. from $85.00 to $86.00. They now have an “outperform” rating on the stock.
• 7/15/2024 – Citigroup had its price target raised by analysts at Argus from $70.00 to $72.00. They now have a “buy” rating on the stock.
• 7/11/2024 – Citigroup had its price target raised by analysts at BMO Capital Markets from $63.00 to $65.00. They now have a “market perform” rating on the stock.
• 7/3/2024 – Citigroup had its price target raised by analysts at Evercore ISI from $60.00 to $62.00. They now have an “in-line” rating on the stock.
• 6/20/2024 – Citigroup had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $65.00 price target on the stock.
• 6/20/2024 – Citigroup had its price target raised by analysts at Keefe, Bruyette & Woods from $66.00 to $69.00. They now have a “market perform” rating on the stock.
• 6/17/2024 – Citigroup had its price target raised by analysts at Royal Bank of Canada from $63.00 to $66.00. They now have an “outperform” rating on the stock.

Citigroup Stock Performance

Shares of Citigroup stock traded up $1.56 on Thursday, reaching $65.22. 6,987,957 shares of the stock were exchanged, compared to its average volume of 14,875,909. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $124.40 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.70 and a beta of 1.46. The business has a 50 day moving average price of $63.03 and a two-hundred day moving average price of $59.66.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the previous year, the company posted $1.37 earnings per share. Citigroup’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 5.84 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a $0.56 dividend. The ex-dividend date is Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.43%. Citigroup’s payout ratio is 59.38%.

Institutional Trading of Citigroup

Several large investors have recently added to or reduced their stakes in the stock. Institute for Wealth Management LLC. grew its holdings in Citigroup by 8.7% in the 2nd quarter. Institute for Wealth Management LLC. now owns 17,843 shares of the company’s stock valued at $1,132,000 after buying an additional 1,422 shares in the last quarter. Fullcircle Wealth LLC acquired a new position in Citigroup during the 2nd quarter worth about $611,000. Atlantic Union Bankshares Corp increased its holdings in Citigroup by 43.3% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 29,968 shares of the company’s stock worth $1,902,000 after purchasing an additional 9,059 shares during the period. McAdam LLC purchased a new stake in Citigroup during the 2nd quarter worth about $338,000. Finally, LRI Investments LLC increased its holdings in Citigroup by 155.4% during the 2nd quarter. LRI Investments LLC now owns 5,019 shares of the company’s stock worth $319,000 after purchasing an additional 3,054 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

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.