Citigroup (NYSE:C) Hits New 12-Month High on Analyst Upgrade

Citigroup Inc. (NYSE:C) shares reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $90.00 to $95.00. Bank of America currently has a buy rating on the stock. Citigroup traded as high as $73.73 and last traded at $73.57, with a volume of 7752924 shares traded. The stock had previously closed at $71.00.

A number of other brokerages have also issued reports on C. Morgan Stanley lowered their price target 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 upped 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. Evercore ISI boosted their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a report on Monday. Finally, Piper Sandler upped their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.13.

Institutional Trading of Citigroup

Several hedge funds have recently modified their holdings of C. Spartan Planning & Wealth Management acquired a new stake in shares of Citigroup in the 4th quarter valued at about $231,000. Diversified Trust Co boosted its holdings in shares of Citigroup by 0.4% in the fourth quarter. Diversified Trust Co now owns 89,601 shares of the company’s stock valued at $6,307,000 after acquiring an additional 370 shares during the period. Neville Rodie & Shaw Inc. purchased a new position in shares of Citigroup during the fourth quarter worth approximately $274,000. CWA Asset Management Group LLC increased its holdings in shares of Citigroup by 193.1% in the 4th quarter. CWA Asset Management Group LLC now owns 47,644 shares of the company’s stock valued at $3,354,000 after acquiring an additional 31,387 shares during the period. Finally, Nordea Investment Management AB raised its position in Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market cap of $139.25 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.80 and a beta of 1.43. The stock’s 50 day moving average is $69.68 and its two-hundred day moving average is $64.84.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. Analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

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.