Citigroup (NYSE:C) Reaches New 52-Week High Following Analyst Upgrade

Citigroup Inc. (NYSE:C)’s stock price hit a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $78.00 to $90.00. Bank of America currently has a buy rating on the stock. Citigroup traded as high as $71.34 and last traded at $71.26, with a volume of 402170 shares traded. The stock had previously closed at $70.87.

C has been the topic of a number of other research reports. Barclays increased their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. POM Investment Strategies LLC acquired a new stake in Citigroup during the second quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the 3rd quarter worth approximately $31,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.8 %

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $135.17 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.79 and a beta of 1.44. The stock’s 50-day moving average is $65.30 and its 200-day moving average is $63.08.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. On average, analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.13%. Citigroup’s dividend payout ratio is presently 64.93%.

Citigroup Company Profile

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.