Citigroup (NYSE:C) Trading Down 1.5%

Citigroup Inc. (NYSE:C)’s stock price was down 1.5% on Thursday . The stock traded as low as $63.83 and last traded at $63.88. Approximately 1,698,981 shares traded hands during trading, a decline of 88% from the average daily volume of 14,741,585 shares. The stock had previously closed at $64.88.

Analysts Set New Price Targets

A number of research firms recently commented on C. BMO Capital Markets lifted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Stock Performance

The firm has a market capitalization of $112.08 billion, a PE ratio of 16.46, a PEG ratio of 0.68 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a 50-day moving average of $63.03 and a 200 day moving average of $60.14.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The firm 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. Equities research analysts predict that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 59.38%.

Hedge Funds Weigh In On Citigroup

A number of large investors have recently bought and sold shares of C. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after buying an additional 250,716 shares during the period. Fisher Asset Management LLC boosted its position in Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after acquiring an additional 1,836,283 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after acquiring an additional 1,300,520 shares during the period. Finally, Norges Bank bought a new position in shares of Citigroup in the 4th quarter worth approximately $867,599,000. 71.72% of the stock is owned by hedge funds and other 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.