Citigroup (NYSE:C) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Citigroup (NYSE:C) had its price objective increased by Keefe, Bruyette & Woods from $85.00 to $92.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on C. Morgan Stanley dropped their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 0.3 %

C opened at $78.51 on Thursday. Citigroup has a 52 week low of $50.51 and a 52 week high of $79.25. The business has a 50 day moving average price of $70.78 and a two-hundred day moving average price of $65.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $148.47 billion, a PE ratio of 22.76, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Citigroup will post 5.88 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 64.93%.

Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Northwest Investment Counselors LLC acquired a new stake in Citigroup in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter worth approximately $31,000. GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.