Citigroup (NYSE:C) Given New $80.00 Price Target at Wells Fargo & Company

Citigroup (NYSE:CFree Report) had its price objective hoisted by Wells Fargo & Company from $70.00 to $80.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on C. The Goldman Sachs Group raised Citigroup from a neutral rating to a buy rating and increased their target price for the stock from $55.00 to $68.00 in a research note on Thursday, March 14th. StockNews.com raised Citigroup from a sell rating to a hold rating in a research note on Tuesday, March 19th. Piper Sandler raised Citigroup from a neutral rating to an overweight rating and increased their target price for the stock from $56.00 to $63.00 in a research note on Wednesday, February 14th. HSBC raised Citigroup from a hold rating to a buy rating and increased their target price for the stock from $42.00 to $61.00 in a research note on Tuesday, January 9th. Finally, Daiwa Capital Markets raised shares of Citigroup from a neutral rating to a buy rating and set a $63.00 price target for the company in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $59.03.

View Our Latest Research Report on C

Citigroup Stock Up 0.2 %

Shares of NYSE C opened at $60.97 on Monday. The firm’s 50-day simple moving average is $55.63 and its 200 day simple moving average is $48.70. The company has a market cap of $116.77 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.52. Citigroup has a 12-month low of $38.17 and a 12-month high of $61.67.

Citigroup (NYSE:CGet Free Report) last issued its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($1.89). The company had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, research analysts expect that Citigroup will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 5th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, February 2nd. Citigroup’s payout ratio is currently 53.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Snider Financial Group boosted its holdings in shares of Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after buying an additional 84,407,589 shares in the last quarter. Norges Bank bought a new position in shares of Citigroup in the 4th quarter worth $867,599,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Citigroup by 87,332.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock worth $339,738,000 after purchasing an additional 7,502,751 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Citigroup in the 4th quarter worth $2,109,120,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Citigroup by 32.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,190,958 shares of the company’s stock worth $729,984,000 after purchasing an additional 3,462,979 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Citigroup (NYSE:C)

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