Citigroup Inc. (NYSE:C) Given Average Recommendation of “Moderate Buy” by Brokerages

Citigroup Inc. (NYSE:C) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $68.06.

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI increased their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Oppenheimer raised their price target on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada boosted their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th.

Citigroup Price Performance

C opened at $61.40 on Monday. The firm has a market cap of $117.12 billion, a PE ratio of 17.20, a P/E/G ratio of 0.68 and a beta of 1.46. The stock has a 50-day moving average price of $62.25 and a 200-day moving average price of $60.52. Citigroup has a 1 year low of $38.17 and a 1 year 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 0.95.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. Sell-side analysts predict that Citigroup will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Institutional Investors Weigh In On Citigroup

Several large investors have recently bought and sold shares of C. International Assets Investment Management LLC purchased a new position in shares of Citigroup in the 4th quarter worth approximately $4,100,000. Cerity Partners LLC increased its position in Citigroup by 58.8% during the fourth quarter. Cerity Partners LLC now owns 259,668 shares of the company’s stock valued at $13,357,000 after acquiring an additional 96,188 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Citigroup in the fourth quarter valued at $39,000. NewEdge Wealth LLC lifted its holdings in shares of Citigroup by 4.9% in the 4th quarter. NewEdge Wealth LLC now owns 7,828 shares of the company’s stock worth $403,000 after acquiring an additional 364 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Citigroup by 24.7% during the 4th quarter. ORG Partners LLC now owns 1,111 shares of the company’s stock worth $57,000 after purchasing an additional 220 shares during the period. 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.