Citigroup Inc. (NYSE:C) Plans Quarterly Dividend of $0.51

Citigroup Inc. (NYSE:CGet Rating) declared a quarterly dividend on Friday, April 1st, RTT News reports. Stockholders of record on Monday, May 2nd will be given a dividend of 0.51 per share on Friday, May 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, April 29th.

Citigroup has increased its dividend by an average of 9.8% annually over the last three years. Citigroup has a payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Citigroup to earn $7.62 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 26.8%.

Shares of C stock traded up $2.13 on Wednesday, reaching $52.23. 26,632,038 shares of the company were exchanged, compared to its average volume of 27,364,852. Citigroup has a one year low of $47.78 and a one year high of $80.29. The company has a market cap of $103.46 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50-day moving average of $54.08 and a 200-day moving average of $61.43.

Citigroup (NYSE:CGet Rating) last announced its quarterly earnings results on Thursday, April 14th. The company reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.47. Citigroup had a net margin of 22.95% and a return on equity of 10.96%. The business had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.12 billion. During the same quarter last year, the firm earned $3.62 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup will post 6.86 EPS for the current year.

In other news, insider Sara Wechter sold 14,800 shares of Citigroup stock in a transaction on Friday, February 11th. The stock was sold at an average price of $68.56, for a total value of $1,014,688.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. SkyView Investment Advisors LLC bought a new stake in Citigroup during the fourth quarter worth about $37,000. First Community Trust NA bought a new stake in Citigroup during the fourth quarter worth about $37,000. KB Financial Partners LLC bought a new stake in Citigroup during the fourth quarter worth about $43,000. EverSource Wealth Advisors LLC bought a new stake in Citigroup during the fourth quarter worth about $162,000. Finally, V Wealth Advisors LLC bought a new stake in Citigroup during the fourth quarter worth about $204,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

C has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered Citigroup from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $81.00 to $64.00 in a report on Thursday, March 3rd. StockNews.com initiated coverage on Citigroup in a report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group dropped their price target on Citigroup from $72.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 7th. Oppenheimer dropped their price target on Citigroup from $100.00 to $93.00 in a report on Tuesday. Finally, Wells Fargo & Company dropped their price target on Citigroup from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, March 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $70.48.

Citigroup Company Profile (Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Dividend History for Citigroup (NYSE:C)

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