Keefe, Bruyette & Woods Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price boosted by Keefe, Bruyette & Woods from $85.00 to $92.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased 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. Morgan Stanley dropped their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 0.3 %

NYSE C opened at $78.51 on Thursday. 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 firm 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. The business’s fifty day simple moving average is $70.78 and its 200-day simple moving average is $65.32. Citigroup has a 52 week low of $50.51 and a 52 week high of $79.25.

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

Citigroup Dividend Announcement

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its holdings in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.