Citigroup (NYSE:C) Hits New 52-Week High – Here’s What Happened

Citigroup Inc. (NYSE:C)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $81.02 and last traded at $81.25, with a volume of 1968497 shares traded. The stock had previously closed at $79.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on C shares. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average is $71.43 and its 200-day moving average is $65.65. The stock has a market capitalization of $154.22 billion, a PE ratio of 13.70, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 6.62% and a net margin of 7.43%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. As a group, equities analysts predict that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its board has authorized a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup in the 2nd quarter worth approximately $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 worth $36,000 after purchasing an additional 368 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in Citigroup in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

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.