Citigroup (NYSE:C) Stock Gets Price Target Cut from Royal Bank Of Canada

Citigroup (NYSE:C) had its price objective cut by Royal Bank Of Canada from $150.00 to $135.00 in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

C has been the topic of a number of other research reports. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. JPMorgan Chase & Co. cut their target price on shares of Citigroup from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Bank of America boosted their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial decreased their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.79.

Citigroup Stock Up 0.9%

Shares of C opened at $124.36 on Wednesday. The company has a market capitalization of $212.11 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.54 and a beta of 1.13. Citigroup has a 52 week low of $95.00 and a 52 week high of $147.96. The stock’s 50-day moving average price is $132.74 and its 200-day moving average price is $131.77. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. Citigroup’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.86 earnings per share. On average, sell-side analysts predict that Citigroup will post 11.34 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a $0.67 dividend. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is presently 26.15%.

Hedge Funds Weigh In On Citigroup

A number of hedge funds have recently bought and sold shares of C. State Street Corp increased its position in shares of Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after buying an additional 2,913,701 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Citigroup during the 2nd quarter valued at approximately $3,244,602,000. Bank of America Corp DE lifted its position in shares of Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after buying an additional 728,043 shares in the last quarter. Invesco Ltd. lifted its position in shares of Citigroup by 6.2% during the 4th quarter. Invesco Ltd. now owns 15,139,403 shares of the company’s stock valued at $1,766,617,000 after buying an additional 887,430 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Citigroup by 10.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after buying an additional 1,210,006 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: U.S. officials raised Citigroup’s market-access issues in China during bilateral talks in Bangkok. The discussions followed an agreement tied to regulatory approval, potentially improving Citi’s growth prospects in the Chinese market. U.S. raises Mastercard, Citigroup China market access in bilateral Bangkok talks
• Positive Sentiment: Recent third-quarter results continued to support Citi’s turnaround narrative. The bank reported earnings of $2.85 per share, above the $2.66 consensus estimate, while revenue rose 7.9% year over year to $23.85 billion. Net income reportedly increased 17%, and quarterly revenue reached its highest level in a decade. Citigroup CEO Jane Fraser Says the Bank Is on Front Foot
• Positive Sentiment: Citigroup is reportedly preparing an initial public offering for Banamex, its former Mexican consumer-banking business. A successful separation and IPO could simplify Citi’s operations, unlock value, and allow management to focus on its core businesses. Banamex leadership pitches turnaround ahead of targeted Citi IPO
• Neutral Sentiment: Citi expects the Federal Reserve to raise interest rates by 25 basis points in December after hotter-than-expected inflation. Higher rates may support lending margins, but they could also pressure economic activity, credit quality, and dealmaking. Citi expects Fed to raise rates by 25 basis points
• Negative Sentiment: Royal Bank of Canada cut its price target for Citigroup, adding pressure after the stock’s post-earnings performance. Broader bank shares have also struggled despite earnings beats because investors remain concerned about interest-rate volatility and potentially slowing trading and investment-banking revenue. Citigroup Stock Price Target Cut by Royal Bank of Canada
• Negative Sentiment: Citi allowed employees in Saudi Arabia to work remotely as regional conflict intensified. The move demonstrates business-continuity planning but highlights geopolitical risks that could disrupt local operations and client activity. Why Is Citigroup Letting Saudi Staff Work Remotely?

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.