Citigroup (NYSE:C) Price Target Raised to $90.00

Citigroup (NYSE:C) had its target price raised by Bank of America from $78.00 to $90.00 in a research report sent to investors on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Barclays lifted their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock 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 company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI boosted their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Citigroup Price Performance

Shares of C opened at $71.48 on Monday. 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 1 year low of $46.40 and a 1 year high of $72.80. The stock has a market cap of $135.19 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The stock’s 50-day moving average price is $65.89 and its two-hundred day moving average price is $63.25.

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

Citigroup Dividend Announcement

The firm also recently announced 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is presently 64.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after acquiring an additional 791,758 shares during the last quarter. Franklin Resources Inc. boosted its stake in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Bank of New York Mellon Corp boosted its stake in Citigroup by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the period. Fisher Asset Management LLC boosted its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the period. Finally, Legal & General Group Plc boosted its stake in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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.