Citigroup Inc. (NYSE:C – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $69.06.
A number of equities research analysts recently weighed in on C shares. Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Morgan Stanley raised their target price on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets increased their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th.
Read Our Latest Report on Citigroup
Citigroup Trading Down 0.1 %
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Citigroup will post 5.79 EPS for the current fiscal year.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. Citigroup’s dividend payout ratio is currently 62.75%.
Hedge Funds Weigh In On Citigroup
Institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its holdings in Citigroup by 72.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,062 shares of the company’s stock worth $106,000 after acquiring an additional 865 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Citigroup during the 4th quarter valued at approximately $671,000. The Manufacturers Life Insurance Company lifted its stake in shares of Citigroup by 6.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,522,315 shares of the company’s stock valued at $129,748,000 after purchasing an additional 152,089 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Citigroup by 11.6% in the 4th quarter. CWA Asset Management Group LLC now owns 15,529 shares of the company’s stock valued at $799,000 after purchasing an additional 1,614 shares during the period. Finally, NEOS Investment Management LLC boosted its holdings in Citigroup by 34.8% during the fourth quarter. NEOS Investment Management LLC now owns 27,129 shares of the company’s stock worth $1,396,000 after buying an additional 7,011 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
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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