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

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

Several other equities research analysts also recently weighed in on C. Jefferies Financial Group raised their price target on shares of Citigroup from $56.00 to $65.00 and gave the company a hold rating in a research report on Monday, April 8th. Daiwa Capital Markets raised shares of Citigroup from a neutral rating to a buy rating and set a $63.00 price target for the company in a research report on Monday, December 18th. StockNews.com raised shares of Citigroup from a sell rating to a hold rating in a research report on Tuesday, March 19th. Societe Generale downgraded shares of Citigroup from a hold rating to a sell rating in a research report on Monday, January 8th. Finally, Wolfe Research raised shares of Citigroup from a peer perform rating to an outperform rating and set a $58.00 target price for the company in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of Moderate Buy and an average target price of $62.91.

Citigroup Price Performance

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

Citigroup (NYSE:C) last released 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 firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same period last year, the business earned $1.86 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast 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. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Institutional Trading of Citigroup

Large investors have recently made changes to their positions in the business. Snider Financial Group grew its holdings in Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after purchasing an additional 84,407,589 shares during the last quarter. Geode Capital Management LLC grew its holdings in Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock valued at $1,646,775,000 after purchasing an additional 519,202 shares during the last quarter. Morgan Stanley grew its holdings in Citigroup by 2.6% during the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Citigroup by 1.2% during the 3rd quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after purchasing an additional 232,652 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.