Citigroup (NYSE:C) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Citigroup (NYSE:C) from a neutral rating to an overweight rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $124.00 price objective on the stock, up from their previous price objective of $107.00.

Other research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Piper Sandler set a $118.00 price target on Citigroup in a research note on Wednesday. Oppenheimer lowered their price objective on Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Truist Financial raised their target price on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their target price on shares of Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.47.

Citigroup Trading Up 0.1%

C stock opened at $111.82 on Friday. The company has a market capitalization of $200.07 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup has a one year low of $55.51 and a one year high of $113.43. The company’s 50 day moving average price is $101.21 and its two-hundred day moving average price is $94.53.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $1.89 by $0.35. The company had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 EPS. As a group, analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.71%.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC grew its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Citigroup by 6.0% in the 1st quarter. E Fund Management Co. Ltd. now owns 4,863 shares of the company’s stock worth $345,000 after purchasing an additional 277 shares in the last quarter. Sit Investment Associates Inc. boosted its position in shares of Citigroup by 0.5% in the 1st quarter. Sit Investment Associates Inc. now owns 112,645 shares of the company’s stock worth $7,997,000 after purchasing an additional 570 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of Citigroup by 124.4% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,686 shares of the company’s stock worth $475,000 after buying an additional 3,707 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC increased its position in Citigroup by 49.5% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 141,113 shares of the company’s stock valued at $10,018,000 after buying an additional 46,740 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.