Citigroup Inc. (NYSE:C) Shares Set to Pay Quarterly Dividend of $0.67

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Monday, October 19th. Investors of record on Monday, November 2nd will be paid a dividend of $0.67 per share on Wednesday, November 25th. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd.

Citigroup has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citigroup to earn $13.09 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 20.5%.

Citigroup Stock Performance

Shares of Citigroup stock opened at $121.68 on Tuesday. The business’s 50 day moving average price is $132.47 and its 200 day moving average price is $132.00. The company has a market cap of $207.53 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.99 and a current ratio of 1.00. Citigroup has a one year low of $95.00 and a one year high of $147.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.19. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the prior year, the business earned $1.86 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Citigroup will post 11.39 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on C. Weiss Ratings cut shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. TD Cowen cut their price objective on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Citigroup in a research note on Wednesday, October 14th. Finally, Loop Capital set a $155.00 target price on shares of Citigroup in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.79.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.