Citigroup (NYSE:C) Shares Down 1.1%

Citigroup Inc. (NYSE:C)’s stock price traded down 1.1% on Monday . The company traded as low as $64.26 and last traded at $64.49. 1,532,572 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 14,794,056 shares. The stock had previously closed at $65.18.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Morgan Stanley increased their price target on shares of Citigroup from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price target on shares of Citigroup in a research report on Monday, April 1st. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.25.

Citigroup Trading Down 1.3 %

The company has a market cap of $122.69 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 0.70 and a beta of 1.46. The company’s fifty day moving average is $63.06 and its two-hundred day moving average is $59.86. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. On average, research analysts anticipate that Citigroup Inc. will post 5.84 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.48%. Citigroup’s dividend payout ratio (DPR) is 59.38%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AM Investment Strategies LLC raised its position in shares of Citigroup by 42.7% during the 2nd quarter. AM Investment Strategies LLC now owns 34,325 shares of the company’s stock valued at $2,178,000 after buying an additional 10,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Citigroup by 29.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,427,592 shares of the company’s stock worth $90,595,000 after acquiring an additional 322,011 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Citigroup in the second quarter valued at $1,135,000. Financial Advocates Investment Management lifted its stake in shares of Citigroup by 13.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,067 shares of the company’s stock valued at $385,000 after purchasing an additional 718 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Citigroup by 15.5% in the 2nd quarter. HB Wealth Management LLC now owns 41,645 shares of the company’s stock valued at $2,643,000 after purchasing an additional 5,577 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.