Citigroup (NYSE:C) Reaches New 1-Year High – What’s Next?

Citigroup Inc. (NYSE:C)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $70.20 and last traded at $70.17, with a volume of 7743829 shares changing hands. The stock had previously closed at $68.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer lifted their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI raised their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Price Performance

The firm has a market capitalization of $132.09 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.44. The stock’s fifty day simple moving average is $64.32 and its 200 day simple moving average is $62.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Citigroup’s revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.21%. Citigroup’s payout ratio is 64.93%.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently added to or reduced their stakes in the business. MONECO Advisors LLC boosted its holdings in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the period. Lifestyle Asset Management Inc. raised its position in Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares in the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the period. Grove Bank & Trust boosted its stake in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the period. Finally, MWA Asset Management grew its position in shares of Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds 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.