Citigroup (NYSE:C) Price Target Raised to $95.00 at TD Cowen

Citigroup (NYSE:C) had its target price boosted by TD Cowen from $85.00 to $95.00 in a research note published on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other analysts also recently issued reports on the stock. Truist Financial increased their target price on shares of Citigroup from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Cowen began coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating for the company. Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. JPMorgan Chase & Co. lowered their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Wall Street Zen cut Citigroup from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.46.

Citigroup Stock Performance

Shares of C opened at $90.06 on Wednesday. The company has a market capitalization of $168.20 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.71 and a beta of 1.34. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. Citigroup has a 1 year low of $53.51 and a 1 year high of $91.80. The company’s 50 day simple moving average is $79.56 and its 200 day simple moving average is $75.13.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.33% and a net margin of 8.44%. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the company earned $1.52 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that Citigroup will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is currently 35.45%.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director directly owned 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust acquired a new stake in Citigroup in the 1st quarter valued at about $29,000. Accent Capital Management LLC boosted its position in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after purchasing an additional 246 shares during the last quarter. 71.72% of the stock is currently owned by 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.