Citigroup (NYSE:C) Reaches New 52-Week High – Time to Buy?

by · The Cerbat Gem

Citigroup Inc. (NYSE:C – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $105.60 and last traded at $105.4460, with a volume of 3823856 shares. The stock had previously closed at $103.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and set a $108.00 price objective on shares of Citigroup in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Oppenheimer decreased their target price on Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Morgan Stanley upped their target price on Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Piper Sandler raised their price target on shares of Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.70.

Read Our Latest Research Report on Citigroup

Citigroup Stock Performance

The firm has a fifty day moving average of $100.00 and a 200 day moving average of $92.75. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $194.94 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.53 and a beta of 1.21.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. The company had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.Citigroup’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Brighton Jones LLC boosted its position in Citigroup by 166.9% during 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 in the last quarter. Cary Street Partners Financial LLC raised its stake in shares of Citigroup by 16.5% during the 1st quarter. Cary Street Partners Financial LLC now owns 30,512 shares of the company’s stock worth $2,166,000 after buying an additional 4,311 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of Citigroup during the 1st quarter valued at approximately $816,000. Wealthspire Advisors LLC lifted its position in shares of Citigroup by 69.7% during the 1st quarter. Wealthspire Advisors LLC now owns 14,507 shares of the company’s stock valued at $1,030,000 after buying an additional 5,960 shares in the last quarter. Finally, Intrust Bank NA grew its stake in Citigroup by 10.9% in the 1st quarter. Intrust Bank NA now owns 16,096 shares of the company’s stock valued at $1,143,000 after acquiring an additional 1,582 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

(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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