Citigroup (NYSE:C) Trading Down 1.1%

Citigroup Inc. (NYSE:C)’s stock price was down 1.1% during trading on Monday . The stock traded as low as $64.26 and last traded at $64.49. Approximately 1,532,572 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 14,794,056 shares. The stock had previously closed at $65.18.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Jefferies Financial Group increased their target price on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. BMO Capital Markets boosted their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Price Performance

The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The business has a 50 day moving average price of $63.10 and a 200-day moving average price of $60.04. The company has a market capitalization of $125.64 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 0.69 and a beta of 1.46.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the business posted $1.37 EPS. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 5.84 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.40%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 59.38%.

Hedge Funds Weigh In On Citigroup

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Norges Bank bought a new stake in Citigroup during the fourth quarter worth $867,599,000. Bank of New York Mellon Corp raised its position in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after buying an additional 4,620,867 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Citigroup during the 4th quarter worth $2,109,120,000. Finally, Swedbank AB bought a new stake in shares of Citigroup in the 1st quarter worth $253,286,000. 71.72% of the stock is owned by institutional investors and hedge funds.

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.