Oppenheimer Increases Citigroup (NYSE:C) Price Target to $107.00

Citigroup (NYSE:C) had its target price hoisted by Oppenheimer from $91.00 to $107.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on C. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets upped their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Barclays upped their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Price Performance

NYSE:C opened at $63.69 on Tuesday. The firm’s fifty day moving average price is $61.98 and its two-hundred day moving average price is $62.19. The company has a market cap of $121.51 billion, a P/E ratio of 18.46, a P/E/G ratio of 0.71 and a beta of 1.44. Citigroup has a one year low of $41.28 and a one year high of $67.81. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 earnings per share. Equities analysts expect that Citigroup will post 5.87 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rossmore Private Capital increased its position in Citigroup by 14.0% during the 3rd quarter. Rossmore Private Capital now owns 11,430 shares of the company’s stock valued at $716,000 after purchasing an additional 1,400 shares during the period. Aptus Capital Advisors LLC increased its position in Citigroup by 20.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 161,538 shares of the company’s stock valued at $10,112,000 after purchasing an additional 27,512 shares during the period. Aigen Investment Management LP acquired a new stake in Citigroup during the 3rd quarter valued at approximately $2,951,000. Prime Capital Investment Advisors LLC increased its position in Citigroup by 7.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 19,784 shares of the company’s stock valued at $1,238,000 after purchasing an additional 1,431 shares during the period. Finally, Savvy Advisors Inc. increased its position in Citigroup by 33.7% during the 3rd quarter. Savvy Advisors Inc. now owns 10,956 shares of the company’s stock valued at $686,000 after purchasing an additional 2,764 shares during the period. Institutional investors and hedge funds 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.