Citigroup (NYSE:C) Price Target Raised to $95.00

Citigroup (NYSE:C) had its price target lifted by TD Cowen from $85.00 to $95.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank Of Canada decreased their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group raised their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Bank of America raised their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a research report on Monday, July 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.46.

Citigroup Stock Up 0.4%

Shares of C stock opened at $93.44 on Wednesday. The firm has a fifty day moving average of $80.43 and a 200-day moving average of $75.45. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup has a 12-month low of $53.51 and a 12-month high of $93.80. The company has a market capitalization of $174.52 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.68 and a beta of 1.34.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is currently 33.09%.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director owned 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its position in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after acquiring an additional 11,674 shares during the period. Invesco Ltd. increased its position in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares during the period. Brighton Jones LLC increased its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC bought a new position in Citigroup during the first quarter worth about $214,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after acquiring an additional 649,807 shares during the period. Institutional investors and hedge funds 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.