UBS Group Raises Citigroup (NYSE:C) Price Target to $83.00

Citigroup (NYSE:C) had its price target increased by UBS Group from $78.00 to $83.00 in a research report released on Tuesday, April 16th, Stock Target Advisor reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on C. Standpoint Research raised shares of Citigroup from a hold rating to a buy rating and set a $49.70 price target for the company in a research report on Wednesday, December 26th. Barclays decreased their price objective on shares of Citigroup from $93.00 to $82.00 and set an overweight rating for the company in a research report on Wednesday, January 2nd. Wells Fargo & Co cut shares of Citigroup to a buy rating in a research report on Friday, January 4th. Macquarie raised shares of Citigroup from a neutral rating to an outperform rating in a research report on Monday, January 7th. Finally, Morgan Stanley decreased their price objective on shares of Citigroup from $81.00 to $76.00 and set an overweight rating for the company in a research report on Tuesday, January 8th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $80.29.

Shares of NYSE C traded up $0.27 during trading on Tuesday, hitting $67.90. 12,318,201 shares of the company traded hands, compared to its average volume of 13,389,417. Citigroup has a 1 year low of $48.42 and a 1 year high of $75.24. The stock has a market capitalization of $173.81 billion, a PE ratio of 10.21, a P/E/G ratio of 0.73 and a beta of 1.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36.

Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The company had revenue of $18.58 billion during the quarter, compared to analysts’ expectations of $18.56 billion. During the same period in the previous year, the company earned $1.68 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Citigroup will post 7.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.65%. Citigroup’s dividend payout ratio (DPR) is presently 27.07%.

In related news, insider W. Bradford Hu sold 5,420 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen Bird sold 30,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $69.33, for a total transaction of $2,079,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,420 shares of company stock worth $2,870,923. Company insiders own 0.09% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 96,369.8% in the third quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock valued at $2,982,839,000 after purchasing an additional 41,535,375 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Citigroup by 5,064.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 39,262,981 shares during the period. Norges Bank acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $1,383,526,000. ValueAct Holdings L.P. increased its stake in shares of Citigroup by 20.2% in the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after purchasing an additional 5,300,000 shares during the period. Finally, Lakewood Capital Management LP boosted its holdings in shares of Citigroup by 75.1% in the fourth quarter. Lakewood Capital Management LP now owns 6,071,500 shares of the financial services provider’s stock valued at $316,082,000 after acquiring an additional 2,605,000 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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