Citigroup (NYSE:C) Price Target Lowered to $87.00 at Oppenheimer

Citigroup (NYSE:C) had its price target trimmed by Oppenheimer from $88.00 to $87.00 in a report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

C has been the subject of several other reports. BMO Capital Markets lowered shares of Citigroup from an outperform rating to a market perform rating and set a $57.00 price target for the company. in a research report on Wednesday, January 10th. Evercore ISI increased their price objective on shares of Citigroup from $58.00 to $60.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Piper Sandler raised shares of Citigroup from a neutral rating to an overweight rating and increased their price objective for the company from $56.00 to $63.00 in a research report on Wednesday, February 14th. The Goldman Sachs Group reaffirmed a buy rating on shares of Citigroup in a research report on Monday, April 1st. Finally, Wolfe Research raised shares of Citigroup from a peer perform rating to an outperform rating and set a $58.00 price objective for the company in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $62.91.

Citigroup Stock Down 1.9 %

NYSE:C opened at $58.56 on Monday. Citigroup has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a 50-day moving average of $57.99 and a 200 day moving average of $50.81. The firm has a market cap of $112.15 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, research analysts anticipate that Citigroup will post 5.73 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.62%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Wealth Management grew its stake in shares of Citigroup by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares during the period. Founders Capital Management grew its stake in Citigroup by 12.5% in the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after acquiring an additional 200 shares during the period. Cowa LLC grew its stake in Citigroup by 3.1% in the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after acquiring an additional 200 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Citigroup by 0.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after acquiring an additional 200 shares during the period. Finally, Rossmore Private Capital grew its stake in Citigroup by 1.5% in the 4th quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock valued at $710,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

About Citigroup

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.