Piper Sandler Boosts Citigroup (NYSE:C) Price Target to $70.00

Citigroup (NYSE:C) had its price objective lifted by Piper Sandler from $67.00 to $70.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also weighed in on C. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $54.00 to $66.00 and gave the stock a market perform rating in a research report on Friday, April 5th. StockNews.com upgraded shares of Citigroup from a sell rating to a hold rating in a research report on Tuesday, March 19th. Jefferies Financial Group boosted their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a hold rating in a research report on Monday, April 8th. Barclays boosted their target price on shares of Citigroup from $59.00 to $63.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company reiterated an overweight rating and issued a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Citigroup presently has a consensus rating of Moderate Buy and an average price target of $62.91.

Citigroup Stock Up 0.3 %

Shares of NYSE C opened at $58.32 on Monday. The company’s 50-day simple moving average is $58.19 and its 200-day simple moving average is $51.03. Citigroup has a 52-week low of $38.17 and a 52-week high of $63.90. The firm has a market cap of $111.70 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. 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 business earned $1.86 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts predict that Citigroup will post 5.91 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Institutional Investors Weigh In On Citigroup

Several large investors have recently added to or reduced their stakes in C. Snider Financial Group increased its stake in Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after buying an additional 84,407,589 shares during the period. Norges Bank purchased a new stake in shares of Citigroup in the 4th quarter valued at approximately $867,599,000. Moneta Group Investment Advisors LLC increased its position in shares of Citigroup by 87,332.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock valued at $339,738,000 after purchasing an additional 7,502,751 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at approximately $2,109,120,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 32.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,190,958 shares of the company’s stock valued at $729,984,000 after purchasing an additional 3,462,979 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.