Citigroup Inc. (NYSE:C) Announces Quarterly Dividend of $0.60

Citigroup Inc. (NYSE:C - Get Free Report) declared a quarterly dividend on Monday, July 14th, RTT News reports. Stockholders of record on Monday, August 4th will be paid a dividend of 0.60 per share on Friday, August 22nd. This represents a $2.40 annualized dividend and a dividend yield of 2.74%. This is a 7.1% increase from Citigroup's previous quarterly dividend of $0.56.

Citigroup has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $9.45 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 23.7%.

Citigroup Stock Up 0.9%

NYSE:C traded up $0.77 during mid-day trading on Monday, hitting $87.50. 13,395,074 shares of the company's stock were exchanged, compared to its average volume of 14,546,274. The business has a fifty day moving average price of $78.40 and a 200 day moving average price of $74.80. Citigroup has a one year low of $53.51 and a one year high of $88.83. The company has a market cap of $163.42 billion, a PE ratio of 13.82, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Equities analysts predict that Citigroup will post 7.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on C shares. The Goldman Sachs Group upped their price objective on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada dropped their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Monday, July 7th. Piper Sandler reissued an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Wall Street Zen lowered Citigroup from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.89.

Insider Transactions at Citigroup

In other Citigroup 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 value of $301,504.42. Following the sale, the director owned 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Citigroup stock. Brighton Jones LLC lifted its position in Citigroup Inc. (NYSE:C - Free Report) by 166.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,990 shares of the company's stock after acquiring an additional 12,499 shares during the quarter. Brighton Jones LLC's holdings in Citigroup were worth $1,407,000 as of its most recent SEC filing. Hedge funds and other 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.

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