Citigroup (NYSE:C) Price Target Raised to $80.00

Citigroup (NYSE:C) had its price target lifted by Wells Fargo & Company from $70.00 to $80.00 in a research report report published on Monday, Marketbeat reports. The firm currently has an overweight rating on the stock.

C has been the subject of several other reports. Piper Sandler raised Citigroup from a neutral rating to an overweight rating and increased their price objective for the stock from $56.00 to $63.00 in a research note on Wednesday, February 14th. Barclays increased their price objective on Citigroup from $59.00 to $63.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. TheStreet raised Citigroup from a c+ rating to a b- rating in a research note on Wednesday, December 13th. Societe Generale downgraded Citigroup from a hold rating to a sell rating in a research note on Monday, January 8th. Finally, Wolfe Research raised Citigroup from a peer perform rating to an outperform rating and set a $58.00 price objective for the company in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has a consensus rating of Moderate Buy and an average target price of $59.03.

Citigroup Stock Up 1.8 %

C stock opened at $62.75 on Monday. The stock’s 50 day simple moving average is $56.06 and its 200 day simple moving average is $48.95. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $62.76. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $120.18 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.69 and a beta of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The firm had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts expect that Citigroup will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s dividend payout ratio (DPR) is 53.13%.

Hedge Funds Weigh In On Citigroup

Several institutional investors and hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its holdings in shares of Citigroup by 24.5% in the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after acquiring an additional 5,853 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of Citigroup by 50.5% in the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after acquiring an additional 2,100 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after acquiring an additional 907 shares during the period. Ergoteles LLC bought a new position in shares of Citigroup in the first quarter worth $761,000. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Citigroup by 7.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after acquiring an additional 268 shares during the period. 71.72% of the stock is owned by institutional investors.

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.