Citigroup (NYSE:C) Price Target Raised to $112.00 at Truist Financial

Citigroup (NYSE:C) had its target price boosted by Truist Financial from $105.00 to $112.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on C. UBS Group reissued a “neutral” rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Wells Fargo & Company upped their price objective on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Piper Sandler raised their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Oppenheimer dropped their price target on shares of Citigroup from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley increased their price target on shares of Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

Citigroup Trading Down 1.3%

NYSE C opened at $101.67 on Wednesday. The firm’s fifty day moving average is $95.93 and its two-hundred day moving average is $81.34. Citigroup has a one year low of $55.51 and a one year high of $105.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $187.16 billion, a PE ratio of 15.02, a P/E/G ratio of 0.89 and a beta of 1.41.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Analysts expect that Citigroup will post 7.53 earnings per share for the current 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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is 35.45%.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Citigroup in the second quarter valued at $2,455,929,000. Goldman Sachs Group Inc. grew its position in Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $578,100,000. Amundi boosted its position in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after buying an additional 6,026,268 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after buying an additional 2,539,769 shares in the last quarter. 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.