Citigroup Inc. (NYSE:C) Stock Has Consensus Price Target of $145.22

Shares of Citigroup Inc. (NYSE:C) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $149.50.

Several research firms recently issued reports on C. UBS Group dropped their price target on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley raised their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. JPMorgan Chase & Co. boosted their price target on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Argus set a $150.00 price target on Citigroup in a report on Wednesday, July 15th.

Institutional Trading of Citigroup

Several institutional investors have recently added to or reduced their stakes in C. Whipplewood Advisors LLC bought a new position in shares of Citigroup during the first quarter valued at approximately $25,000. Paladin Partners LLC acquired a new position in Citigroup during the 2nd quarter valued at about $27,000. TD Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth approximately $28,000. IMG Wealth Management Inc. raised its stake in shares of Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after buying an additional 162 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Citigroup in the first quarter worth about $29,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 2.2%

Shares of Citigroup stock opened at $131.32 on Friday. The company has a fifty day moving average price of $134.33 and a 200 day moving average price of $130.15. The stock has a market cap of $223.98 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup has a twelve month low of $93.66 and a twelve month high of $147.96.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The firm had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.Citigroup’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. Equities research analysts forecast that Citigroup will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. Citigroup’s payout ratio is 28.94%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Stablecoin partnership could create a new revenue stream. Citigroup is providing the banking infrastructure for Coinbase virtual accounts that allow merchants to accept stablecoins. A separate report highlights a potential arrangement in which Citi could retain or share approximately 3.75% yields generated by stablecoin reserves invested in Treasury bills and overnight repurchase agreements. Citi Merchants Can Now Take Stablecoins Through Coinbase The 3.75% Yield That Makes Citi’s Stablecoin Play Work
• Positive Sentiment: Banamex IPO could generate substantial fees. Citigroup is reportedly assembling a banking group for a potential January IPO of Mexico’s Grupo Financiero Banamex that could raise more than $3 billion. Citi is expected to lead the offering, supporting its capital-markets business and reinforcing its position in Mexico. Citigroup Lines Up a $3 Billion Banamex IPO
• Positive Sentiment: HSBC remains bullish on Citigroup. HSBC initiated coverage with a Buy rating and raised its price target to $164 from $161, implying significant upside from the referenced trading level. HSBC Adjusts Price Target on Citigroup
• Neutral Sentiment: Citigroup won a role in Kenya’s debt restructuring. The bank will arrange a $1 billion U.S.-backed debt swap. The mandate may add advisory and underwriting revenue, although the direct earnings impact was not disclosed. Citigroup to Arrange a $1 Billion US-Backed Debt Swap for Kenya
• Negative Sentiment: Hawkish Federal Reserve commentary is a headwind. Cleveland Fed President Beth Hammack warned that inflation may remain entrenched and said monetary policy might not yet be restrictive enough. Higher bond yields can pressure bank valuations and raise concerns about future credit demand and funding costs. Fed’s Hammack Warns Against Entrenched Inflation

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.