Citigroup (NYSE:C) Price Target Raised to $105.00 at Truist Financial

Key Points

• Truist Financial has raised its price target for Citigroup from $99.00 to $105.00, indicating a potential upside of 10.84% from the company's previous close.
• Citigroup's stock currently holds an average rating of "Moderate Buy" from analysts, with ten analysts recommending a buy and five recommending a hold.
• During its latest earnings report, Citigroup exceeded expectations by posting $1.96 earnings per share, surpassing the consensus estimate of $1.61.

Citigroup (NYSE:C - Free Report) had its price target lifted by Truist Financial from $99.00 to $105.00 in a research note published on Wednesday, MarketBeat.com reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. The Goldman Sachs Group increased their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen lifted 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, July 16th. Wells Fargo & Company lifted their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.96.

Citigroup Price Performance

Shares of C stock traded down $1.64 on Wednesday, reaching $95.44. The company's stock had a trading volume of 17,018,341 shares, compared to its average volume of 12,488,161. Citigroup has a 12-month low of $55.51 and a 12-month high of $97.98. The stock's 50 day simple moving average is $92.56 and its 200-day simple moving average is $79.23. The company has a market capitalization of $175.69 billion, a P/E ratio of 14.10, a PEG ratio of 0.82 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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 was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC grew its holdings in shares of Citigroup by 3.6% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company's stock valued at $265,000 after purchasing an additional 109 shares during the last quarter. Fullcircle Wealth LLC grew its holdings in shares of Citigroup by 0.9% during the 2nd quarter. Fullcircle Wealth LLC now owns 13,097 shares of the company's stock valued at $1,206,000 after purchasing an additional 111 shares during the last quarter. Binnacle Investments Inc grew its holdings in shares of Citigroup by 6.5% during the 2nd quarter. Binnacle Investments Inc now owns 1,847 shares of the company's stock valued at $157,000 after purchasing an additional 113 shares during the last quarter. Secure Asset Management LLC grew its holdings in shares of Citigroup by 3.7% during the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock valued at $280,000 after purchasing an additional 118 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Citigroup by 11.1% during the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.