Citigroup (NYSE:C) Given New $87.00 Price Target at Oppenheimer

Citigroup (NYSE:C) had its price target decreased by Oppenheimer from $88.00 to $87.00 in a report published on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other analysts also recently weighed in on the company. HSBC lifted their price objective on Citigroup from $61.00 to $70.00 and gave the company a buy rating in a report on Thursday, March 28th. Barclays lifted their price objective on Citigroup from $59.00 to $63.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. Piper Sandler upgraded Citigroup from a neutral rating to an overweight rating and lifted their price objective for the company from $56.00 to $63.00 in a report on Wednesday, February 14th. Wolfe Research upgraded Citigroup from a peer perform rating to an outperform rating and set a $58.00 price objective for the company in a report on Wednesday, January 3rd. Finally, Daiwa Capital Markets upgraded shares of Citigroup from a neutral rating to a buy rating and set a $63.00 target price for the company in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $62.91.

Citigroup Stock Performance

C stock opened at $58.32 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $58.19 and its two-hundred day simple moving average is $51.03. Citigroup has a twelve month low of $38.17 and a twelve month high of $63.90. The firm has a market cap of $111.70 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.86 and a beta of 1.52.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that Citigroup will post 5.91 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Naviter Wealth LLC raised its stake in shares of Citigroup by 25.0% during the 1st quarter. Naviter Wealth LLC now owns 30,502 shares of the company’s stock worth $1,929,000 after buying an additional 6,098 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Citigroup by 2.9% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 72,806 shares of the company’s stock worth $4,604,000 after buying an additional 2,018 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Citigroup by 44.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,800,519 shares of the company’s stock valued at $113,865,000 after purchasing an additional 554,826 shares during the last quarter. O ROURKE & COMPANY Inc raised its stake in Citigroup by 7.1% in the 1st quarter. O ROURKE & COMPANY Inc now owns 4,508 shares of the company’s stock valued at $285,000 after purchasing an additional 297 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in Citigroup by 1.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 34,471 shares of the company’s stock valued at $2,180,000 after purchasing an additional 352 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.