Citigroup (NYSE:C) Sets New 12-Month High After Analyst Upgrade

Citigroup Inc. (NYSE:C)’s share price hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $124.00 price target on the stock, up from their previous price target of $107.00. Citigroup traded as high as $113.52 and last traded at $112.9780, with a volume of 1888396 shares. The stock had previously closed at $111.80.

A number of other research firms have also recently commented on C. The Goldman Sachs Group reaffirmed a “buy” rating and set a $118.00 target price on shares of Citigroup in a research note on Tuesday, October 14th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. UBS Group reaffirmed a “neutral” rating and issued a $108.00 price objective on shares of Citigroup in a research report on Monday, November 24th. Truist Financial lifted their target price on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Citigroup in a report on Wednesday, December 10th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $112.47.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC lifted its position in shares of Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Truvestments Capital LLC lifted its position in Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. Dunhill Financial LLC grew its holdings in shares of Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares during the last quarter. Guerra Advisors Inc acquired a new stake in shares of Citigroup during the third quarter worth about $33,000. Finally, Howard Hughes Medical Institute acquired a new stake in shares of Citigroup during the second quarter worth about $34,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

The firm has a market capitalization of $201.98 billion, a PE ratio of 15.85, a P/E/G ratio of 0.56 and a beta of 1.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The company has a fifty day moving average price of $101.50 and a two-hundred day moving average price of $94.79.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. The company had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 3rd. Citigroup’s dividend payout ratio is presently 33.71%.

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.