Brokerages Set Citigroup Inc. (NYSE:C) Target Price at $62.85

Citigroup Inc. (NYSE:C) has received an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $62.85.

Several research firms have commented on C. Wells Fargo & Company reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Evercore ISI lifted their price objective on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Oppenheimer dropped their target price on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th.

Citigroup Stock Up 2.1 %

Shares of C stock opened at $62.81 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a 12 month low of $38.17 and a 12 month high of $63.90. The stock has a market cap of $120.30 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a 50 day simple moving average of $59.70 and a two-hundred day simple moving average of $52.79.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. On average, research analysts expect that Citigroup will post 5.98 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of C. Carmel Capital Partners LLC acquired a new position in shares of Citigroup during the third quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter worth $26,000. AlphaMark Advisors LLC lifted its stake in shares of Citigroup by 75.0% during the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at $29,000. Finally, Beaird Harris Wealth Management LLC increased its position in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

About Citigroup

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.