Citigroup (NYSE:C) Price Target Raised to $95.00

Citigroup (NYSE:C) had its target price boosted by Wells Fargo & Company from $85.00 to $95.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley reduced their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Oppenheimer lifted their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI lifted their price target 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. Finally, Bank of America raised their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Price Performance

Shares of NYSE C traded up $0.61 during mid-day trading on Friday, hitting $68.76. 15,373,056 shares of the stock were exchanged, compared to its average volume of 14,459,951. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $130.04 billion, a P/E ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. The stock’s fifty day simple moving average is $63.21 and its two-hundred day simple moving average is $62.59. Citigroup has a twelve month low of $44.32 and a twelve month high of $70.20.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the business posted $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts forecast that Citigroup will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Trading of Citigroup

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB purchased a new position in shares of Citigroup in the first quarter worth about $253,286,000. Acadian Asset Management LLC boosted its position in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP boosted its position in shares of Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after acquiring an additional 1,988,494 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. 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.