Wells Fargo & Company Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price hoisted by Wells Fargo & Company from $115.00 to $125.00 in a report issued on Tuesday morning, MarketBeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on the stock. Morgan Stanley increased their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 price target on shares of Citigroup in a report on Monday, July 7th. Piper Sandler lifted their price objective on Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.68.

Citigroup Stock Up 0.9%

Shares of NYSE C opened at $100.71 on Tuesday. Citigroup has a 52 week low of $55.51 and a 52 week high of $100.85. The business has a 50-day simple moving average of $94.18 and a two-hundred day simple moving average of $80.16. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $185.40 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.86 and a beta of 1.41.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion for the quarter, compared to analysts’ expectations of $20.75 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction on 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 directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citigroup

Several institutional investors and hedge funds have recently bought and sold shares of C. Private Advisory Group LLC increased its stake in shares of Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after buying an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock valued at $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC increased its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC bought a new position in Citigroup in the 1st quarter worth $214,000. Finally, Pinnacle Financial Partners Inc lifted its position in shares of Citigroup by 495.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock worth $1,317,000 after purchasing an additional 15,436 shares during the period. Hedge funds and other institutional investors 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.