Citigroup Inc. (NYSE:C) Declares Quarterly Dividend of $0.56

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.56 per share on Friday, February 28th. This represents a $2.24 annualized dividend and a dividend yield of 3.04%.

Citigroup has increased its dividend by an average of 2.2% annually over the last three years. Citigroup has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Citigroup to earn $7.19 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 31.2%.

Citigroup Stock Up 1.1 %

Shares of NYSE C traded up $0.82 during midday trading on Tuesday, hitting $73.59. 19,539,282 shares of the company’s stock were exchanged, compared to its average volume of 15,232,545. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup has a twelve month low of $50.51 and a twelve month high of $74.29. The company has a market cap of $139.18 billion, a PE ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.43. The firm’s fifty day simple moving average is $70.40 and its 200-day simple moving average is $65.15.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. Research analysts predict that Citigroup will post 5.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on C shares. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Piper Sandler boosted their target price on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley decreased their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

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.