Keefe, Bruyette & Woods Upgrades Citigroup (NYSE:C) to Outperform

Keefe, Bruyette & Woods upgraded shares of Citigroup (NYSE:C) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $82.00 target price on the stock, up from their prior target price of $70.00.

A number of other analysts have also recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays boosted their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Citigroup Price Performance

NYSE C opened at $71.42 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $135.07 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The company has a 50 day moving average price of $65.67 and a two-hundred day moving average price of $63.19. Citigroup has a 12-month low of $46.40 and a 12-month high of $72.80.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the previous year, the company earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts predict that Citigroup will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. POM Investment Strategies LLC acquired a new stake in Citigroup during the 2nd quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the 3rd quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup during the 2nd quarter valued at $32,000. Institutional investors 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.