Oppenheimer Cuts Citigroup (NYSE:C) Price Target to $87.00

Citigroup (NYSE:C) had its price objective trimmed by Oppenheimer from $88.00 to $87.00 in a research note released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

C has been the subject of several other reports. Wolfe Research upgraded Citigroup from a peer perform rating to an outperform rating and set a $58.00 price target for the company in a research note on Wednesday, January 3rd. Daiwa Capital Markets upgraded Citigroup from a neutral rating to a buy rating and set a $63.00 target price for the company in a research report on Monday, December 18th. Morgan Stanley upgraded Citigroup from an underweight rating to an overweight rating and increased their target price for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. The Goldman Sachs Group reiterated a buy rating on shares of Citigroup in a research report on Monday, April 1st. Finally, HSBC increased their target price on Citigroup from $61.00 to $70.00 and gave the company a buy rating in a research report on Thursday, March 28th. One 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 stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $62.91.

Citigroup Trading Up 2.0 %

C stock opened at $58.17 on Monday. Citigroup has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. 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 business has a 50 day simple moving average of $58.11 and a two-hundred day simple moving average of $50.98.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.64%. Citigroup’s payout ratio is 62.72%.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of C. Panagora Asset Management Inc. grew its position in shares of Citigroup by 24.5% during the 1st quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after buying an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. grew its position in shares of Citigroup by 50.5% during the 1st quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after buying an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Citigroup by 20.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after buying an additional 907 shares in the last quarter. Ergoteles LLC bought a new position in shares of Citigroup during the 1st quarter worth $761,000. Finally, Halbert Hargrove Global Advisors LLC grew its position in shares of Citigroup by 7.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.