Citigroup (NYSE:C) Hits New 12-Month High on Analyst Upgrade

Citigroup Inc. (NYSE:C - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $89.00 to $100.00. Bank of America currently has a buy rating on the stock. Citigroup traded as high as $84.76 and last traded at $84.63, with a volume of 9348480 shares traded. The stock had previously closed at $82.63.

A number of other equities analysts also recently commented on C. Morgan Stanley boosted their target price on shares of Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Citigroup in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $84.03.

Insider Activity at Citigroup

In other 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 completion of the sale, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors and hedge funds have recently made changes to their positions in C. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the first quarter valued at about $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the first quarter valued at about $29,000. Accent Capital Management LLC raised its holdings in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after buying an additional 246 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 2.2%

The firm has a market capitalization of $157.75 billion, a PE ratio of 13.34, a PEG ratio of 0.64 and a beta of 1.33. The business's fifty day moving average price is $73.68 and its 200 day moving average price is $73.45. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.65%. Citigroup's dividend payout ratio is currently 35.39%.

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.