Keefe, Bruyette & Woods Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price increased by Keefe, Bruyette & Woods from $82.00 to $85.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI boosted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler upped their target price on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.64.

Citigroup Stock Performance

NYSE:C opened at $71.00 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a twelve month low of $50.51 and a twelve month high of $73.38. The company has a fifty day moving average of $69.33 and a 200-day moving average of $64.60. The firm has a market capitalization of $134.28 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, sell-side analysts anticipate that Citigroup will post 5.86 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Institutional Trading of Citigroup

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Citigroup by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 30,381 shares of the company’s stock valued at $2,139,000 after purchasing an additional 3,308 shares during the period. Versant Capital Management Inc lifted its position in shares of Citigroup by 64.7% during the 4th quarter. Versant Capital Management Inc now owns 2,341 shares of the company’s stock valued at $165,000 after buying an additional 920 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Citigroup by 11.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,728,261 shares of the company’s stock worth $233,389,000 after acquiring an additional 383,534 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Citigroup in the 3rd quarter worth about $614,000. Finally, Inspire Trust Co. N.A. raised its stake in Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 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.