Citigroup Inc. (NYSE:C) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Citigroup Inc. (NYSE:C) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $68.06.

C has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley upped their price objective on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Evercore ISI raised their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. BMO Capital Markets lifted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th.

Citigroup Stock Performance

Shares of C stock opened at $61.40 on Monday. The company has a fifty day moving average price of $62.25 and a two-hundred day moving average price of $60.58. Citigroup has a one year low of $38.17 and a one year high of $67.81. The stock has a market cap of $117.12 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. As a group, equities analysts predict that Citigroup will post 5.85 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Hedge Funds Weigh In On Citigroup

Several hedge funds have recently bought and sold shares of the company. Wallace Advisory Group LLC boosted its holdings in shares of Citigroup by 34.8% in the 2nd quarter. Wallace Advisory Group LLC now owns 6,799 shares of the company’s stock valued at $431,000 after purchasing an additional 1,756 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Citigroup during the 2nd quarter worth $258,000. Sunbelt Securities Inc. boosted its stake in Citigroup by 0.6% in the second quarter. Sunbelt Securities Inc. now owns 77,270 shares of the company’s stock valued at $4,904,000 after buying an additional 425 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Citigroup by 2.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 125,696 shares of the company’s stock valued at $7,977,000 after acquiring an additional 3,004 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Citigroup by 58.4% during the second quarter. NewEdge Advisors LLC now owns 127,121 shares of the company’s stock worth $8,067,000 after acquiring an additional 46,890 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

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.