Citigroup (NYSE:C) Hits New 12-Month High - What's Next?

Key Points

• Citigroup's stock price reached a new 52-week high of $98.38 during trading, with a last traded price of $97.27 amid a significant trading volume of over 12 million shares.
• Analysts have provided a generally positive outlook, with several firms upgrading their target prices and maintaining "buy" ratings, leading to a consensus price target of $96.96.
• Citigroup announced an increase in its quarterly dividend to $0.60, representing a 2.5% dividend yield, demonstrating the company's commitment to returning value to shareholders.

Citigroup Inc. (NYSE:C - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $98.38 and last traded at $97.27, with a volume of 12237036 shares traded. The stock had previously closed at $97.34.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial raised their target price on Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Barclays raised their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised their target price on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.96.

Citigroup Price Performance

The firm has a 50 day moving average price of $93.21 and a 200 day moving average price of $79.58. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $179.06 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.84 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the company earned $1.52 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

Institutional Trading of Citigroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in C. Norges Bank bought a new stake in Citigroup during the 2nd quarter valued at approximately $2,455,929,000. Goldman Sachs Group Inc. raised its stake in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC bought a new stake in Citigroup during the 1st quarter valued at approximately $578,100,000. Amundi raised its stake in Citigroup by 78.4% during the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Citigroup by 6.6% during 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 purchasing an additional 2,539,769 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.

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