Citigroup Inc. (NYSE:C) Announces $0.56 Quarterly Dividend

Citigroup Inc. (NYSE:C) 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.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the business posted $1.52 EPS. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Citigroup will post 5.86 earnings per share for the current fiscal year.

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.

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.