Citigroup (NYSE:C) Price Target Raised to $85.00

Citigroup (NYSE:C) had its price objective lifted by The Goldman Sachs Group from $75.00 to $85.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

C has been the subject of several other research reports. Oppenheimer reiterated an “outperform” rating on shares of Citigroup in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Truist Financial cut their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. TD Cowen initiated coverage on shares of Citigroup in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup Stock Performance

Shares of C opened at $78.23 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $146.11 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The firm’s fifty day simple moving average is $70.65 and its two-hundred day simple moving average is $72.96. Citigroup has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. As a group, analysts predict that Citigroup will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.86%. Citigroup’s payout ratio is presently 35.39%.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of C. Price T Rowe Associates Inc. MD grew its position in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC grew its position in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the last quarter. FMR LLC grew its position in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. grew its position in Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors lifted its stake in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.