Citigroup (NYSE:C) Given New $79.00 Price Target at Evercore ISI

Citigroup (NYSE:C) had its target price upped by Evercore ISI from $69.00 to $79.00 in a research report released on Thursday,Benzinga reports. The firm currently has an in-line rating on the stock.

Several other analysts have also weighed in on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday. Finally, Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

C opened at $78.51 on Thursday. The company has a market capitalization of $148.47 billion, a P/E ratio of 22.76, a PEG ratio of 0.59 and a beta of 1.43. The company has a 50-day moving average of $70.78 and a 200-day moving average of $65.32. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup has a 1-year low of $50.51 and a 1-year high of $79.25.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities analysts expect that Citigroup will post 5.88 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter valued at $31,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the 2nd quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Citigroup in the 4th quarter worth approximately $44,000. 71.72% of the stock is owned by institutional investors.

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.