Citigroup (NYSE:C) Reaches New 52-Week High on Analyst Upgrade

Citigroup Inc. (NYSE:CGet Free Report) shares reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $89.00 to $100.00. Bank of America currently has a buy rating on the stock. Citigroup traded as high as $84.76 and last traded at $84.63, with a volume of 9348480 shares trading hands. The stock had previously closed at $82.63.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Tuesday. Evercore ISI lowered their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Royal Bank Of Canada decreased their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.03.

View Our Latest Stock Report on C

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in Citigroup during the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the first quarter worth $28,000. Accent Capital Management LLC increased its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. American National Bank & Trust purchased a new stake in Citigroup during the first quarter valued at $29,000. Finally, Truvestments Capital LLC lifted its holdings in Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

The firm has a market capitalization of $157.75 billion, a PE ratio of 13.34, a PEG ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50-day simple moving average of $74.10 and a 200-day simple moving average of $73.53.

Citigroup (NYSE:CGet Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.65%. Citigroup’s payout ratio is presently 35.39%.

About Citigroup

(Get Free Report)

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.

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