Oppenheimer Cuts Citigroup (NYSE:C) Price Target to $102.00

Citigroup (NYSE:C) had its target price cut by Oppenheimer from $110.00 to $102.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group increased 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. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Piper Sandler boosted their target price on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Bank of America raised their price target on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Evercore ISI boosted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.64.

Citigroup Stock Performance

Shares of C opened at $71.00 on Friday. Citigroup has a 1 year low of $50.51 and a 1 year high of $73.38. The company’s 50 day simple moving average is $69.33 and its 200 day simple moving average is $64.65. The company has a market capitalization of $134.28 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its 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. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 earnings per share. On average, sell-side analysts predict that Citigroup will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Institutional Trading of Citigroup

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Trust Co. N.A. raised its holdings in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares during the period. HighTower Advisors LLC grew its position in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares during the last quarter. KBC Group NV raised its stake in Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after acquiring an additional 20,291 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in 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 acquiring an additional 18,278 shares during the last quarter. Finally, Summit Global Investments boosted its stake in Citigroup by 289.5% in the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after acquiring an additional 22,774 shares during the period. 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.