Citigroup (NYSE:C) Stock Price Expected to Rise, Piper Sandler Analyst Says

Citigroup (NYSE:C) had its price target hoisted by Piper Sandler from $73.00 to $80.00 in a research report released on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $82.00 in a report on Tuesday. Morgan Stanley lowered their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Oppenheimer boosted their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Citigroup Stock Performance

C opened at $71.42 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a 12-month low of $46.40 and a 12-month high of $72.80. The company has a market cap of $135.07 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.45. The company’s 50 day moving average is $65.67 and its 200 day moving average is $63.19.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Citigroup will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of C. POM Investment Strategies LLC bought a new position in Citigroup during the second quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the 2nd quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 3rd quarter worth about $31,000. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup in the 2nd quarter worth about $32,000. Institutional investors own 71.72% of the company’s stock.

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.