Truist Financial Raises Citigroup (NYSE:C) Price Target to $99.00

Citigroup (NYSE:C - Free Report) had its price objective hoisted by Truist Financial from $93.00 to $99.00 in a report issued on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

C has been the subject of a number of other reports. Oppenheimer set a $123.00 target price on shares of Citigroup and gave the company an "outperform" rating in a research note on Wednesday. TD Cowen lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday. Cowen began coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.46.

Citigroup Stock Up 3.4%

NYSE C traded up $3.08 during trading on Wednesday, reaching $93.10. The company's stock had a trading volume of 23,901,095 shares, compared to its average volume of 14,682,043. 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 stock has a market capitalization of $173.88 billion, a PE ratio of 13.75, a PEG ratio of 0.71 and a beta of 1.34. The business has a 50-day moving average price of $79.56 and a 200-day moving average price of $75.13. Citigroup has a 1-year low of $53.51 and a 1-year high of $93.19.

Citigroup (NYSE:C - Get Free Report) last posted its 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 firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.33%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. On average, research analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 35.45%.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Citigroup during the 4th quarter worth about $274,000. Envestnet Portfolio Solutions Inc. raised its holdings in Citigroup by 9.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 74,215 shares of the company's stock worth $5,224,000 after purchasing an additional 6,340 shares during the last quarter. Parallel Advisors LLC raised its holdings in Citigroup by 8.2% during the 4th quarter. Parallel Advisors LLC now owns 31,279 shares of the company's stock worth $2,202,000 after purchasing an additional 2,380 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in Citigroup by 194.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 16,740 shares of the company's stock worth $1,178,000 after purchasing an additional 11,051 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

About Citigroup

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.