Citigroup (NYSE:C) Price Target Lowered to $86.00 at Oppenheimer

Citigroup (NYSE:C) had its price objective reduced by Oppenheimer from $87.00 to $86.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on C. Jefferies Financial Group raised their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a hold rating in a research report on Monday, April 8th. The Goldman Sachs Group restated a buy rating on shares of Citigroup in a research note on Monday, April 1st. StockNews.com upgraded Citigroup from a sell rating to a hold rating in a research report on Tuesday, March 19th. Barclays boosted their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler increased their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an overweight rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of Moderate Buy and an average price target of $62.85.

Citigroup Price Performance

Shares of C opened at $61.50 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The firm has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $52.48. The company has a market capitalization of $117.79 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. On average, equities research analysts anticipate that Citigroup will post 5.98 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio is presently 62.72%.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Citigroup in the 4th quarter valued at about $867,599,000. Bank of New York Mellon Corp grew its holdings in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after buying an additional 4,620,867 shares during the period. International Assets Investment Management LLC purchased a new stake in Citigroup in the 4th quarter valued at about $2,109,120,000. Greenhaven Associates Inc. grew its holdings in Citigroup by 22.4% in the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after buying an additional 2,948,512 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Citigroup by 42.4% in the 3rd quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock valued at $266,709,000 after buying an additional 1,930,296 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

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.