Citigroup (NYSE:C) Price Target Raised to $107.00 at Oppenheimer

Citigroup (NYSE:C) had its price target lifted by Oppenheimer from $91.00 to $107.00 in a report published on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the company. Bank of America lifted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Piper Sandler boosted their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Stock Performance

Shares of C stock traded up $0.39 on Tuesday, hitting $68.50. The company had a trading volume of 2,124,629 shares, compared to its average volume of 14,384,237. The firm has a market cap of $130.68 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. Citigroup has a twelve month low of $41.28 and a twelve month high of $70.09. The company has a 50-day moving average price of $62.17 and a 200-day moving average price of $62.27. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup will post 5.87 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.27%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MONECO Advisors LLC boosted its position in shares of Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the period. Lifestyle Asset Management Inc. boosted its holdings in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC raised its position in Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its stake in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the period. 71.72% of the stock is currently 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.