Citigroup Inc. (C) to Issue Quarterly Dividend of $0.56 on February 28th

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd.

Citigroup has increased its dividend by an average of 2.2% per year over the last three years. Citigroup has a 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 Price Performance

C stock opened at $78.48 on Thursday. The business has a 50 day moving average price of $70.60 and a 200 day moving average price of $65.22. Citigroup has a fifty-two week low of $50.51 and a fifty-two week high of $79.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market cap of $148.43 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Equities research analysts anticipate that Citigroup will post 5.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Piper Sandler increased their price objective on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.13.

Citigroup declared that its board has initiated a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.