Citigroup Inc. (NYSE:C) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Citigroup Inc. has received a consensus rating of "Moderate Buy" from 15 brokers, with 10 buy ratings and 5 holds, and a 1-year price target averaging $96.54.
• The company recently reported earnings exceeding analysts' expectations, with an EPS of $1.96 and a revenue of $21.67 billion for the last quarter.
• Citigroup has increased its quarterly dividend to $0.60, representing a 2.6% yield, up from the previous $0.56 per share.

Shares of Citigroup Inc. (NYSE:C - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $96.5357.

A number of brokerages recently commented on C. TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler boosted their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, Barclays lifted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th.

Citigroup Trading Down 0.7%

Shares of NYSE C opened at $92.5350 on Friday. Citigroup has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The firm has a market capitalization of $170.35 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company's 50 day simple moving average is $89.04 and its 200 day simple moving average is $78.20.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS 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 8.44% and a return on equity of 7.29%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, analysts predict that Citigroup will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Citigroup by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company's stock valued at $14,117,313,000 after purchasing an additional 1,148,451 shares during the period. Geode Capital Management LLC raised its position in Citigroup by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company's stock valued at $3,645,084,000 after buying an additional 411,894 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Franklin Resources Inc. boosted its position in Citigroup by 2.2% during the 2nd quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company's stock worth $2,748,571,000 after acquiring an additional 679,967 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Citigroup by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company's stock worth $2,737,583,000 after acquiring an additional 988,152 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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