Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

Citigroup (NYSE:C) had its price objective hoisted by Keefe, Bruyette & Woods from $85.00 to $92.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley reduced 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. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Up 2.0 %

C opened at $80.05 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup has a one year low of $50.51 and a one year high of $80.45. The firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a fifty day moving average price of $71.22 and a 200-day moving average price of $65.52.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. Equities research analysts expect that Citigroup will post 5.88 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Institutional Investors Weigh In On Citigroup

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup in the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the second quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the 3rd quarter valued at $31,000. GHP Investment Advisors Inc. grew its position in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other 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.