Citigroup Inc. Announces Quarterly Dividend of $0.56 (NYSE:C)

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.56 per share on Friday, February 28th. This represents a $2.24 dividend on an annualized basis and a yield of 3.04%.

Citigroup has increased its dividend by an average of 2.2% per year over the last three years. Citigroup has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Citigroup to earn $7.19 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 31.2%.

Citigroup Trading Up 1.1 %

C stock traded up $0.82 during midday trading on Tuesday, reaching $73.59. The company’s stock had a trading volume of 19,539,282 shares, compared to its average volume of 15,232,545. The firm has a market capitalization of $139.18 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup has a 1 year low of $50.51 and a 1 year high of $74.29. The stock has a fifty day simple moving average of $70.40 and a two-hundred day simple moving average of $65.15.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Citigroup will post 5.86 EPS for the current year.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler lifted their target price on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI lifted their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.13.

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.