Citigroup (NYSE:C) PT Lowered to $71.00

Citigroup (NYSE:C) had its price objective cut by The Goldman Sachs Group from $75.00 to $71.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Evercore ISI increased their target price on Citigroup from $60.00 to $62.00 and gave the stock an in-line rating in a research note on Wednesday, July 3rd. Argus raised their target price on Citigroup from $70.00 to $72.00 and gave the company a buy rating in a report on Monday, July 15th. Royal Bank of Canada upped their price target on shares of Citigroup from $63.00 to $66.00 and gave the stock an outperform rating in a research note on Monday, June 17th. Morgan Stanley raised their price objective on shares of Citigroup from $66.00 to $79.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Finally, Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an overweight rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $68.25.

Citigroup Stock Performance

NYSE:C opened at $57.28 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $109.26 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. The firm’s fifty day moving average price is $62.08 and its 200 day moving average price is $61.30. Citigroup has a 1-year low of $38.17 and a 1-year high of $67.81.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 earnings per share. On average, sell-side analysts expect that Citigroup will post 5.82 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is 62.75%.

Institutional Trading of Citigroup

A number of large investors have recently made changes to their positions in C. POM Investment Strategies LLC acquired a new position in Citigroup in the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the fourth quarter valued at $29,000. Beacon Capital Management LLC lifted its position in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

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.