Citigroup (NYSE:C) Price Target Raised to $92.00 at Oppenheimer

Citigroup (NYSE:C) had its target price raised by Oppenheimer from $87.00 to $92.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on C. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the stock a buy rating in a research report on Monday, July 15th. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an overweight rating in a research report on Monday, July 15th. Royal Bank of Canada upped their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an outperform rating in a report on Monday, June 17th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a market perform rating in a report on Thursday, June 20th. Finally, Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an in-line rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $69.06.

Citigroup Price Performance

Shares of C stock opened at $62.64 on Wednesday. The firm’s 50-day moving average is $60.61 and its two-hundred day moving average is $61.77. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $119.48 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. Analysts predict that Citigroup will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MONECO Advisors LLC raised its stake in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after buying an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after acquiring an additional 164 shares in the last quarter. NorthRock Partners LLC lifted its stake in Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC boosted its holdings in Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other 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.