Citigroup (NYSE:C) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Citigroup (NYSE:C) in a research note published on Tuesday morning,Benzinga reports. The brokerage issued a buy rating and a $85.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler raised their price target on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research report on Monday. Evercore ISI raised their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Trading Up 1.2 %

NYSE C opened at $73.63 on Tuesday. Citigroup has a 1 year low of $50.51 and a 1 year high of $74.29. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $139.25 billion, a PE ratio of 21.34, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a fifty day moving average of $69.68 and a 200 day moving average of $64.84.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. Research analysts forecast that Citigroup will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced 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 (DPR) is 64.93%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Caxton Associates LP boosted its holdings in Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after purchasing an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after buying an additional 1,865,628 shares during the period. Nordea Investment Management AB grew its stake in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after buying an additional 1,731,527 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.