Citigroup’s (C) “Neutral” Rating Reaffirmed at UBS Group

UBS Group reaffirmed their neutral rating on shares of Citigroup (NYSE:C) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $89.00 target price on the stock.

Several other equities research analysts have also recently issued reports on C. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Piper Sandler restated an “overweight” rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. Finally, Oppenheimer reissued an “outperform” rating on shares of Citigroup in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $89.11.

Citigroup Stock Up 3.5%

NYSE C opened at $90.55 on Tuesday. Citigroup has a 12 month low of $53.51 and a 12 month high of $91.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The stock has a market cap of $169.12 billion, a PE ratio of 14.31, a P/E/G ratio of 0.69 and a beta of 1.34. The stock’s 50 day moving average is $79.16 and its 200 day moving average is $75.03.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. Citigroup’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Research analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is currently 35.39%.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Several institutional investors have recently added to or reduced their stakes in C. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Citigroup during the fourth quarter worth approximately $274,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Citigroup by 9.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 74,215 shares of the company’s stock valued at $5,224,000 after acquiring an additional 6,340 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Citigroup by 3.9% in the fourth quarter. Corient Private Wealth LLC now owns 467,474 shares of the company’s stock valued at $32,442,000 after purchasing an additional 17,590 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Citigroup by 8.2% in the fourth quarter. Parallel Advisors LLC now owns 31,279 shares of the company’s stock valued at $2,202,000 after purchasing an additional 2,380 shares during the period. Institutional investors own 71.72% of the company’s stock.

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.