Citigroup (C) Price Target Raised to $90.00 at Wells Fargo & Co

Citigroup (NYSE:C) had its target price increased by Wells Fargo & Co from $82.00 to $90.00 in a research note issued to investors on Thursday, The Fly reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. ValuEngine raised shares of Citigroup from a sell rating to a hold rating in a research note on Thursday, April 18th. Zacks Investment Research raised shares of Citigroup from a sell rating to a hold rating in a research note on Tuesday, April 16th. Morgan Stanley upped their price objective on shares of Citigroup from $76.00 to $81.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. UBS Group upped their price objective on shares of Citigroup from $78.00 to $83.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets upped their price objective on shares of Citigroup from $92.00 to $93.00 and gave the company an outperform rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Citigroup currently has an average rating of Buy and an average target price of $79.98.

NYSE C opened at $69.51 on Thursday. Citigroup has a 12 month low of $48.42 and a 12 month high of $75.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.99. The stock has a market cap of $178.65 billion, a PE ratio of 10.45, a P/E/G ratio of 0.80 and a beta of 1.67.

Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The company had revenue of $18.58 billion during the quarter, compared to the consensus estimate of $18.56 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that Citigroup will post 7.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 27.07%.

In other Citigroup news, insider W. Bradford Hu sold 5,420 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Bird sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,420 shares of company stock valued at $2,870,923 in the last quarter. Company insiders own 0.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kentucky Retirement Systems purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $13,049,000. Nordea Investment Management AB boosted its stake in shares of Citigroup by 10.0% during the 3rd quarter. Nordea Investment Management AB now owns 5,782,335 shares of the financial services provider’s stock valued at $414,827,000 after buying an additional 524,750 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $926,000. Csenge Advisory Group purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $104,000. Finally, Griffin Asset Management Inc. purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $221,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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