Piper Sandler Raises Citigroup (NYSE:C) Price Target to $70.00

Citigroup (NYSE:C) had its price target raised by Piper Sandler from $67.00 to $70.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

C has been the subject of several other reports. The Goldman Sachs Group restated a buy rating on shares of Citigroup in a report on Monday, April 1st. Evercore ISI lifted their target price on shares of Citigroup from $58.00 to $60.00 and gave the company an in-line rating in a research note on Thursday, April 4th. StockNews.com raised shares of Citigroup from a sell rating to a hold rating in a research note on Tuesday, March 19th. Wells Fargo & Company reissued an overweight rating and set a $80.00 target price on shares of Citigroup in a research note on Monday, April 1st. Finally, Jefferies Financial Group lifted their target price on shares of Citigroup from $56.00 to $65.00 and gave the company a hold rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of Moderate Buy and an average price target of $62.91.

Citigroup Price Performance

Shares of NYSE C opened at $58.17 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a twelve month low of $38.17 and a twelve month high of $63.90. The company has a market capitalization of $111.41 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.92 and a beta of 1.52. The firm has a 50-day moving average of $58.11 and a two-hundred day moving average of $50.98.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Citigroup will post 5.73 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.64%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of C. Carmel Capital Partners LLC bought a new position in shares of Citigroup during the 3rd quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter worth about $26,000. GHP Investment Advisors Inc. increased its holdings in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after purchasing an additional 290 shares during the period. SkyView Investment Advisors LLC bought a new position in shares of Citigroup during the 1st quarter worth about $28,000. Finally, AlphaMark Advisors LLC increased its holdings in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares during the period. Institutional investors 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.