Citigroup Inc. (NYSE:C) Declares Quarterly Dividend of $0.67

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Monday, October 19th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.67 per share on Wednesday, November 25th. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd.

Citigroup has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Citigroup to earn $13.09 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 20.5%.

Citigroup Price Performance

Shares of Citigroup stock opened at $121.94 on Tuesday. The stock has a market capitalization of $207.98 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 0.55 and a beta of 1.13. The firm’s 50-day moving average price is $132.47 and its two-hundred day moving average price is $132.00. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.78. Citigroup has a 1-year low of $95.00 and a 1-year high of $147.96.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. Citigroup’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, equities analysts predict that Citigroup will post 11.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on C. UBS Group set a $148.00 price target on Citigroup in a report on Wednesday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a report on Wednesday, October 14th. Bank of America increased their price target on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley lifted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Finally, Truist Financial dropped their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.79.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.