Citigroup Inc. (NYSE:C – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.56 per share on Friday, November 22nd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Monday, November 4th.
Citigroup has increased its dividend payment by an average of 0.7% per year over the last three years. Citigroup has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Citigroup to earn $7.12 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 31.5%.
Citigroup Stock Performance
C traded down $0.10 on Thursday, hitting $63.00. The company’s stock had a trading volume of 9,890,275 shares, compared to its average volume of 14,389,945. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81. The firm has a market cap of $120.17 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company’s 50 day simple moving average is $61.62 and its 200-day simple moving average is $61.95.
Analysts Set New Price Targets
Several analysts have commented on the company. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley reduced their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Oppenheimer dropped their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. One investment 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 company has an average rating of “Moderate Buy” and an average target price of $71.06.
Get Our Latest Analysis on Citigroup
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.
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