Citigroup Inc. (NYSE:C - Get Free Report) shares traded down 0.2% during mid-day trading on Monday . The stock traded as low as $68.52 and last traded at $68.32. 2,216,840 shares changed hands during trading, a decline of 85% from the average session volume of 14,375,858 shares. The stock had previously closed at $68.43.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.04.
Get Our Latest Stock Analysis on Citigroup
Citigroup Price Performance
The business's 50 day moving average is $69.38 and its 200-day moving average is $71.15. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $128.30 billion, a P/E ratio of 11.45, a PEG ratio of 0.64 and a beta of 1.29.
Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.
Citigroup Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.29%. Citigroup's payout ratio is currently 35.39%.
Citigroup announced that its board has authorized a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling at Citigroup
In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares of the company's stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company's stock.
Institutional Trading of Citigroup
A number of institutional investors have recently modified their holdings of C. Advisory Resource Group increased its holdings in Citigroup by 3.7% during the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after acquiring an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd boosted its position in shares of Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock valued at $12,617,000 after acquiring an additional 12,810 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Citigroup by 24.4% in the third quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock worth $160,000 after purchasing an additional 501 shares during the last quarter. World Investment Advisors LLC lifted its position in Citigroup by 36.6% during the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock valued at $1,348,000 after purchasing an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Citigroup by 432.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock worth $2,391,000 after buying an additional 31,020 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.
About Citigroup
(
Get Free Report)
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.
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