Citigroup (NYSE:C) Given New $54.00 Price Target at Credit Suisse Group

Citigroup (NYSE:CGet Rating) had its target price trimmed by Credit Suisse Group from $56.00 to $54.00 in a research report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Piper Sandler reduced their target price on Citigroup from $70.00 to $62.00 and set an overweight rating on the stock in a report on Friday, July 1st. Cfra restated a buy rating and set a $62.00 price objective on shares of Citigroup in a research report on Friday, July 15th. Evercore ISI set a $54.00 price objective on Citigroup in a research report on Tuesday, July 19th. TheStreet downgraded Citigroup from a b- rating to a c+ rating in a research report on Tuesday, June 21st. Finally, Seaport Res Ptn restated a buy rating on shares of Citigroup in a research report on Friday, July 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of Hold and an average price target of $62.19.

Citigroup Stock Performance

C opened at $48.44 on Thursday. The firm has a market cap of $93.81 billion, a P/E ratio of 6.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60. Citigroup has a 52-week low of $43.44 and a 52-week high of $73.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average is $50.63 and its 200-day moving average is $51.17.

Citigroup (NYSE:CGet Rating) last released its earnings results on Friday, July 15th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.63. The company had revenue of $19.64 billion for the quarter, compared to analyst estimates of $18.32 billion. Citigroup had a return on equity of 10.25% and a net margin of 20.06%. Citigroup’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.84 EPS. Sell-side analysts expect that Citigroup will post 7.37 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $2.04 annualized dividend and a dividend yield of 4.21%. Citigroup’s payout ratio is 26.09%.

Insider Activity

In other news, insider Citigroup Inc sold 4,614,358 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. Following the completion of the sale, the insider now owns 15,318 shares of the company’s stock, valued at $555,277.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Citigroup by 2.2% during the first quarter. Vanguard Group Inc. now owns 168,683,301 shares of the company’s stock worth $9,007,688,000 after purchasing an additional 3,697,137 shares during the period. BlackRock Inc. grew its stake in Citigroup by 2.9% during the first quarter. BlackRock Inc. now owns 164,865,664 shares of the company’s stock worth $8,803,824,000 after purchasing an additional 4,702,380 shares during the period. State Street Corp grew its stake in Citigroup by 1.4% in the first quarter. State Street Corp now owns 93,306,092 shares of the company’s stock valued at $4,982,545,000 after acquiring an additional 1,244,093 shares during the period. Snider Financial Group grew its stake in Citigroup by 96,645.9% in the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares during the period. Finally, Geode Capital Management LLC grew its stake in Citigroup by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 33,753,519 shares of the company’s stock valued at $2,033,390,000 after acquiring an additional 319,525 shares during the period. Institutional investors and hedge funds own 71.46% of the company’s stock.

Citigroup Company Profile

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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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