Brokerages Set Citigroup Inc. (NYSE:C) PT at $108.70

Citigroup Inc. (NYSE:C) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $108.70.

A number of research firms have issued reports on C. Oppenheimer lowered their price target on Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Piper Sandler boosted their target price on Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Truist Financial increased their target price on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Barclays raised their price target on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Dbs Bank downgraded shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Davis R M Inc. acquired a new position in shares of Citigroup during the first quarter worth $202,000. Harbour Investments Inc. boosted its stake in shares of Citigroup by 3.3% in the first quarter. Harbour Investments Inc. now owns 5,852 shares of the company’s stock valued at $415,000 after purchasing an additional 188 shares during the period. Nicolet Advisory Services LLC grew its holdings in Citigroup by 5.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 4,323 shares of the company’s stock valued at $307,000 after purchasing an additional 224 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Citigroup by 1.2% during the 1st quarter. US Bancorp DE now owns 529,258 shares of the company’s stock valued at $37,572,000 after purchasing an additional 6,361 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $103.18 on Friday. Citigroup has a 1 year low of $55.51 and a 1 year high of $105.59. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $99.78 and a 200 day moving average price of $92.54. The company has a market cap of $184.61 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.51 and a beta of 1.21.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. The company had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. Citigroup’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 earnings per share. Sell-side analysts predict that Citigroup will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio is currently 33.71%.

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.