Oppenheimer Reiterates "$123.00" Price Target for Citigroup (NYSE:C)

Oppenheimer set a $123.00 target price on Citigroup (NYSE:C - Free Report) in a research report report published on Wednesday, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on C. The Goldman Sachs Group raised their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Bank of America raised their price target on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen downgraded Citigroup from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Morgan Stanley raised their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $96.46.

Citigroup Stock Down 0.7%

C stock traded down $0.66 during mid-day trading on Wednesday, reaching $90.06. The company had a trading volume of 23,312,073 shares, compared to its average volume of 14,645,427. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $168.20 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The firm has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $75.03. Citigroup has a fifty-two week low of $53.51 and a fifty-two week high of $91.80.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.33% and a net margin of 8.44%. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. Analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a $0.60 dividend. The ex-dividend date is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Citigroup's payout ratio is 35.39%.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 sale, the director directly owned 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citigroup

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. FMR LLC raised its holdings in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.