Citigroup (NYSE:C) Price Target Lowered to $83.00 at Oppenheimer

Citigroup (NYSE:CGet Rating) had its price objective cut by Oppenheimer from $87.00 to $83.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also commented on the stock. Morgan Stanley cut their target price on shares of Citigroup from $45.00 to $41.00 and set an underweight rating for the company in a research note on Friday, January 6th. Piper Sandler increased their target price on shares of Citigroup from $47.00 to $51.00 in a research note on Tuesday. Barclays increased their target price on shares of Citigroup from $57.00 to $61.00 and gave the company an equal weight rating in a research note on Tuesday, January 3rd. The Goldman Sachs Group lowered shares of Citigroup from a buy rating to a neutral rating and cut their price target for the company from $54.00 to $47.00 in a report on Monday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Citigroup from $52.00 to $46.00 in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of Hold and a consensus price target of $57.42.

Citigroup Trading Up 0.8 %

Citigroup stock opened at $50.31 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $46.73 and a two-hundred day moving average price of $47.45. The firm has a market capitalization of $97.44 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 1.61 and a beta of 1.56. Citigroup has a 52-week low of $40.01 and a 52-week high of $69.11.

Citigroup Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. boosted its stake in shares of Citigroup by 24.5% during the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after buying an additional 5,853 shares during the period. Zions Bancorporation N.A. lifted its position in Citigroup by 50.5% in the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after purchasing an additional 2,100 shares during the period. Brown Brothers Harriman & Co. lifted its position in Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after purchasing an additional 907 shares during the period. Ergoteles LLC acquired a new stake in Citigroup in the first quarter valued at about $761,000. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Citigroup by 7.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after purchasing an additional 268 shares during the period. 70.90% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Company Profile

(Get Rating)

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.

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Analyst Recommendations for Citigroup (NYSE:C)

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