Wells Fargo & Company Increases Citigroup (NYSE:C) Price Target to $80.00

Citigroup (NYSE:C) had its price objective raised by Wells Fargo & Company from $70.00 to $80.00 in a report released on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

C has been the subject of several other reports. BMO Capital Markets downgraded shares of Citigroup from an outperform rating to a market perform rating and set a $57.00 price target on the stock. in a report on Wednesday, January 10th. Wolfe Research upgraded Citigroup from a peer perform rating to an outperform rating and set a $58.00 target price on the stock in a report on Wednesday, January 3rd. Oppenheimer dropped their price target on Citigroup from $95.00 to $88.00 and set an outperform rating for the company in a research report on Tuesday, March 19th. Piper Sandler raised 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 research report on Wednesday, February 14th. Finally, HSBC upgraded Citigroup from a hold rating to a buy rating and upped their price target for the stock from $42.00 to $61.00 in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $59.56.

Citigroup Trading Up 0.8 %

Shares of Citigroup stock opened at $63.24 on Monday. Citigroup has a 1 year low of $38.17 and a 1 year high of $63.37. The company has a market capitalization of $121.12 billion, a P/E ratio of 15.85, a PEG ratio of 1.72 and a beta of 1.50. The company’s fifty day moving average is $56.30 and its two-hundred day moving average is $49.05. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its earnings results on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of $0.73 by ($1.89). The firm had revenue of $17.44 billion during the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. Analysts forecast that Citigroup will post 5.83 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 5th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s dividend payout ratio (DPR) is currently 53.13%.

Hedge Funds Weigh In On Citigroup

Several large investors have recently added to or reduced their stakes in C. Meridian Wealth Management LLC boosted its position in Citigroup by 130.4% in the third quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after purchasing an additional 99,371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Citigroup during the third quarter worth about $209,000. Sound Income Strategies LLC raised its position in Citigroup by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after acquiring an additional 21,440 shares during the period. Stifel Financial Corp grew its position in shares of Citigroup by 4.5% during the 3rd quarter. Stifel Financial Corp now owns 943,832 shares of the company’s stock valued at $38,820,000 after acquiring an additional 40,630 shares during the period. Finally, Kahn Brothers Group Inc. increased its stake in shares of Citigroup by 0.7% during the 3rd quarter. Kahn Brothers Group Inc. now owns 1,215,684 shares of the company’s stock worth $50,001,000 after purchasing an additional 8,878 shares during the last quarter. 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.