Citigroup (NYSE:C) Reaches New 1-Year High on Analyst Upgrade

Citigroup Inc. (NYSE:C)’s share price hit a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $78.00 to $90.00. Bank of America currently has a buy rating on the stock. Citigroup traded as high as $71.34 and last traded at $71.26, with a volume of 402170 shares traded. The stock had previously closed at $70.87.

C has been the subject of several other research reports. Oppenheimer increased their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their price objective 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. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.75.

Institutional Investors Weigh In On Citigroup

Institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of Citigroup by 13.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the period. BDF Gestion bought a new position in Citigroup in the 2nd quarter valued at $3,861,000. KBC Group NV grew its position in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Citigroup by 4.9% in the third quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock worth $24,710,000 after purchasing an additional 18,278 shares during the period. Finally, Summit Global Investments raised its position in shares of Citigroup by 289.5% in the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $1,918,000 after buying an additional 22,774 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.8 %

The company has a market cap of $135.17 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day moving average of $65.30 and a 200-day moving average of $63.08.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.13%. Citigroup’s dividend payout ratio is presently 64.93%.

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.