Citigroup Inc. (NYSE:C – Get Free Report) reached a new 52-week low during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $45.00 to $43.00. Morgan Stanley currently has an underweight rating on the stock. Citigroup traded as low as $39.82 and last traded at $39.85, with a volume of 6186516 shares trading hands. The stock had previously closed at $40.50.
A number of other research analysts also recently issued reports on the company. Bank of America upped their price objective on Citigroup from $58.00 to $60.00 in a research note on Monday, June 5th. Societe Generale downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Monday, July 10th. The Goldman Sachs Group dropped their target price on shares of Citigroup from $47.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday. HSBC began coverage on shares of Citigroup in a research note on Thursday, September 7th. They set a “hold” rating and a $43.00 price target for the company. Finally, Odeon Capital Group upgraded Citigroup from a “hold” rating to a “buy” rating and set a $50.51 price objective on the stock in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Hold” and a consensus target price of $52.00.
Institutional Trading of Citigroup
A number of large investors have recently modified their holdings of C. SkyView Investment Advisors LLC purchased a new position in shares of Citigroup during the 1st quarter valued at about $28,000. Union Savings Bank purchased a new position in shares of Citigroup during the 2nd quarter valued at about $30,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Citigroup during the 4th quarter valued at about $33,000. Heritage Wealth Management LLC raised its holdings in shares of Citigroup by 140.1% during the 4th quarter. Heritage Wealth Management LLC now owns 862 shares of the company’s stock valued at $39,000 after buying an additional 503 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Citigroup by 40.3% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 867 shares of the company’s stock valued at $40,000 after buying an additional 249 shares in the last quarter. Institutional investors own 69.26% of the company’s stock.
Citigroup Trading Down 1.4 %
The company has a market capitalization of $77.73 billion, a PE ratio of 6.34, a PEG ratio of 1.62 and a beta of 1.54. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.45. The stock has a fifty day moving average of $42.93 and a two-hundred day moving average of $45.27.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The business had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $19.34 billion. During the same period in the previous year, the firm earned $2.30 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.72 earnings per share for the current fiscal year.
Citigroup Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a dividend yield of 5.31%. Citigroup’s payout ratio is currently 33.60%.
About Citigroup
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.