Citigroup Inc. (NYSE:C) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Citigroup Inc. (NYSE:C) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.69.

A number of analysts recently weighed in on the company. Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Argus lifted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley upped their price target on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th.

Citigroup Price Performance

Shares of NYSE:C opened at $62.61 on Tuesday. The company’s fifty day moving average price is $60.82 and its 200-day moving average price is $61.71. 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 capitalization of $119.42 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.69 and a beta of 1.45. Citigroup has a one year low of $38.17 and a one year high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.58%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Institutional Investors Weigh In On Citigroup

Hedge funds have recently made changes to their positions in the company. MONECO Advisors LLC lifted its holdings in shares of Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after acquiring an additional 164 shares in the last quarter. NorthRock Partners LLC grew its stake in shares of Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after acquiring an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after acquiring an additional 169 shares in the last quarter. Finally, Gries Financial LLC raised its position in shares of Citigroup by 3.0% in the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after purchasing an additional 176 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.