Citigroup (NYSE:C) Sets New 12-Month High After Analyst Upgrade

Shares of Citigroup Inc. (NYSE:C) hit a new 52-week high during trading on Monday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $95.00 price target on the stock, up from their previous price target of $70.00. Citigroup traded as high as $73.73 and last traded at $73.57, with a volume of 7752924 shares trading hands. The stock had previously closed at $71.00.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler upped their target price on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America increased their price target on shares of Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $79.43.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently modified their holdings of C. Geode Capital Management LLC grew its stake in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the period. Franklin Resources Inc. raised its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after acquiring an additional 913,231 shares during the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

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 company has a market cap of $139.27 billion, a PE ratio of 21.34, a P/E/G ratio of 0.80 and a beta of 1.43. The stock has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $64.65.

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 the consensus estimate 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 the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

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.