Citigroup (NYSE:C) Price Target Increased to $51.00 by Analysts at Piper Sandler

Citigroup (NYSE:C – Get Rating) had its price objective lifted by Piper Sandler from $47.00 to $51.00 in a report published on Tuesday, The Fly reports.

Several other equities analysts have also issued reports on the company. StockNews.com began coverage on Citigroup in a research note on Wednesday, October 12th. They issued a hold rating on the stock. BMO Capital Markets lowered their price target on Citigroup from $76.00 to $71.00 and set an outperform rating on the stock in a report on Monday, October 17th. The Goldman Sachs Group lowered Citigroup from a buy rating to a neutral rating and reduced their price target for the stock from $54.00 to $47.00 in a research report on Monday, October 3rd. Oppenheimer lowered their target price on Citigroup from $90.00 to $87.00 and set an outperform rating for the company in a research note on Wednesday, December 28th. Finally, Morgan Stanley lowered their price objective on Citigroup from $45.00 to $41.00 and set an underweight rating for the company in a research note on Friday, January 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $57.42.

Citigroup Price Performance

NYSE:C opened at $50.31 on Tuesday. The firm has a fifty day simple moving average of $46.73 and a 200 day simple moving average of $47.45. Citigroup has a 1-year low of $40.01 and a 1-year high of $69.11. The stock has a market capitalization of $97.44 billion, a PE ratio of 7.19, a P/E/G ratio of 1.61 and a beta of 1.56. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.49.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Monday, February 6th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 29.14%.

Institutional Investors Weigh In On Citigroup

Several institutional investors and hedge funds have recently bought and sold shares of the business. McClarren Financial Advisors Inc. acquired a new stake in Citigroup during the 3rd quarter worth approximately $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Citigroup in the third quarter valued at about $28,000. EWG Elevate Inc. bought a new position in Citigroup in the fourth quarter valued at about $29,000. Corsicana & Co. grew its holdings in shares of Citigroup by 314.5% during the second quarter. Corsicana & Co. now owns 659 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in Citigroup by 96.6% in the third quarter. McIlrath & Eck LLC now owns 814 shares of the company’s stock valued at $34,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 70.90% of the company’s stock.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.