Citigroup (NYSE:C) Trading Up 0.6% After Analyst Upgrade

Citigroup Inc. (NYSE:C)’s stock price rose 0.6% on Tuesday after Oppenheimer raised their price target on the stock from $91.00 to $94.00. Oppenheimer currently has an outperform rating on the stock. Citigroup traded as high as $68.78 and last traded at $68.67. Approximately 2,147,284 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 14,374,723 shares. The stock had previously closed at $68.28.

C has been the subject of several other research reports. StockNews.com lowered Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Piper Sandler reissued an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial lowered their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Insider Buying and Selling at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Citigroup

Large investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $84,000 after acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC grew its position in shares of Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after purchasing an additional 120 shares during the period. Blake Schutter Theil Wealth Advisors LLC increased its stake in shares of Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares in the last quarter. Hemington Wealth Management raised its position in shares of Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after purchasing an additional 136 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 0.9 %

The company has a fifty day moving average of $68.82 and a 200-day moving average of $71.15. The company has a market capitalization of $129.68 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. Citigroup’s payout ratio is presently 35.39%.

Citigroup announced that its board has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.