Citigroup Inc. (NYSE:C – Get Free Report) declared a quarterly dividend on Tuesday, January 14th,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.56 per share on Friday, February 28th. This represents a $2.24 annualized dividend and a yield of 3.04%.
Citigroup has increased its dividend payment by an average of 2.2% per year over the last three years. Citigroup has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $7.19 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 31.2%.
Citigroup Stock Performance
Shares of C stock opened at $73.59 on Wednesday. The stock has a market capitalization of $139.18 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.80 and a beta of 1.43. Citigroup has a one year low of $50.51 and a one year high of $74.29. The company’s 50-day simple moving average is $70.60 and its 200-day simple moving average is $65.22. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.
Wall Street Analyst Weigh In
Several analysts have weighed in on C shares. Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler raised 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. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.
View Our Latest Research Report on C
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.
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