Citigroup (NYSE:C) Reaches New 12-Month High on Better-Than-Expected Earnings

Citigroup Inc. (NYSE:C - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $90.66 and last traded at $89.22, with a volume of 6506740 shares. The stock had previously closed at $87.50.

The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.66%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on C. Barclays upped their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen lowered shares of Citigroup from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday. TD Cowen upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. One research 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's stock. According to MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director directly owned 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of C. Orion Capital Management LLC acquired a new position in shares of Citigroup during the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup in the 1st quarter worth $28,000. Accent Capital Management LLC grew its holdings in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Citigroup in the 1st quarter worth $29,000. Finally, Truvestments Capital LLC grew its holdings in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Down 0.7%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $168.22 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.69 and a beta of 1.34. The stock has a fifty day moving average of $79.16 and a 200-day moving average of $75.03.

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.