Citigroup Inc. (NYSE:C) Plans $0.60 Quarterly Dividend

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Monday, October 13th, RTT News reports. Investors of record on Monday, November 3rd will be paid a dividend of 0.60 per share on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, November 3rd.

Citigroup has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $9.45 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 23.7%.

Citigroup Stock Performance

Shares of Citigroup stock opened at $96.18 on Tuesday. The business has a 50-day moving average of $97.09 and a 200 day moving average of $84.05. Citigroup has a 12 month low of $55.51 and a 12 month high of $105.59. The stock has a market capitalization of $177.05 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same period last year, the business posted $1.52 EPS. Citigroup’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Citigroup will post 7.53 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on C shares. Oppenheimer reduced their price target on Citigroup from $124.00 to $123.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Truist Financial increased their price target on Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, July 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.68.

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.