Citigroup Inc. (NYSE:C) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Citigroup Inc. (NYSE:C) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $84.61.

Several brokerages have recently weighed in on C. JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Evercore ISI reduced their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Truist Financial cut their target price on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Trading of Citigroup

Institutional investors have recently modified their holdings of the stock. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Orion Capital Management LLC purchased a new position in Citigroup during the 4th quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the first quarter valued at $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the first quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Citigroup during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.5 %

Shares of NYSE C opened at $68.47 on Friday. The stock has a market cap of $128.88 billion, a PE ratio of 11.51, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a 50-day moving average of $69.38 and a 200 day moving average of $71.05.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, sell-side analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

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.