Citigroup (NYSE:C) Price Target Lowered to $71.00 at The Goldman Sachs Group

Citigroup (NYSE:C) had its target price trimmed by The Goldman Sachs Group from $75.00 to $71.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an outperform rating in a research note on Monday, June 17th. Argus boosted their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a buy rating in a report on Monday, July 15th. Morgan Stanley boosted their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Oppenheimer boosted their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a market perform rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $68.25.

Citigroup Stock Up 0.6 %

Shares of Citigroup stock opened at $57.67 on Wednesday. The stock has a market capitalization of $110.02 billion, a P/E ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a 50 day moving average price of $61.81 and a two-hundred day moving average price of $61.33. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion for 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.37 earnings per share. Equities analysts expect that Citigroup will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Institutional Trading of Citigroup

Hedge funds have recently modified their holdings of the stock. POM Investment Strategies LLC bought a new stake in shares of Citigroup during the second quarter valued at approximately $25,000. Beacon Capital Management LLC grew its stake in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the second quarter valued at approximately $31,000. Triad Wealth Partners LLC bought a new position in Citigroup in the second quarter valued at approximately $32,000. Finally, Frazier Financial Advisors LLC bought a new position in Citigroup in the fourth quarter valued at approximately $29,000. 71.72% of the stock is owned by institutional investors.

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.