Shares of Citigroup Inc. (NYSE:C - Get Free Report) fell 0% on Friday . The stock traded as low as $67.76 and last traded at $68.13. 2,687,156 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 14,389,860 shares. The stock had previously closed at $68.16.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on C. Morgan Stanley cut their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Oppenheimer lifted their price objective on shares of Citigroup from $91.00 to $94.00 and gave the company an "outperform" rating in a research note on Monday. Royal Bank of Canada reduced their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Evercore ISI decreased their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $84.04.
Check Out Our Latest Report on C
Citigroup Stock Performance
The stock's 50 day moving average price is $69.07 and its two-hundred day moving average price is $71.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $129.68 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.64 and a beta of 1.29.
Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.
Citigroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.25%. Citigroup's dividend payout ratio is presently 35.39%.
Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other news, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.
Hedge Funds Weigh In On Citigroup
Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. FMR LLC increased its position in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.
Citigroup Company Profile
(
Get Free Report)
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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