Citigroup (NYSE:C) Given New $48.00 Price Target at Keefe, Bruyette & Woods

Citigroup (NYSE:C – Get Rating) had its price objective cut by Keefe, Bruyette & Woods from $50.00 to $48.00 in a research note issued to investors on Thursday, The Fly reports.

Other equities analysts also recently issued research reports about the stock. StockNews.com assumed coverage on shares of Citigroup in a report on Thursday, May 18th. They set a hold rating on the stock. Royal Bank of Canada dropped their target price on Citigroup from $55.00 to $51.00 and set an outperform rating on the stock in a research report on Friday, March 24th. Wells Fargo & Company upped their target price on Citigroup from $62.00 to $65.00 and gave the company an overweight rating in a research report on Monday, April 17th. Oppenheimer upped their target price on Citigroup from $75.00 to $78.00 and gave the company an outperform rating in a research report on Monday, April 17th. Finally, Credit Suisse Group dropped their target price on Citigroup from $54.00 to $50.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has a consensus rating of Hold and an average price target of $54.68.

Citigroup Stock Performance

C opened at $44.23 on Thursday. Citigroup has a 52-week low of $40.01 and a 52-week high of $54.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.48. The company has a market cap of $86.10 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.57. The firm’s 50-day moving average price is $46.37 and its 200-day moving average price is $47.72.

Citigroup (NYSE:C – Get Rating) last posted its quarterly earnings data on Friday, April 14th. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.53. Citigroup had a net margin of 12.96% and a return on equity of 7.84%. The firm had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup will post 6 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Monday, May 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, April 28th. Citigroup’s payout ratio is 28.45%.

Insider Transactions at Citigroup

In other news, insider Zdenek Turek sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $49.87, for a total transaction of $598,440.00. Following the completion of the transaction, the insider now directly owns 155,979 shares of the company’s stock, valued at approximately $7,778,672.73. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Arlington Partners LLC acquired a new position in Citigroup in the 4th quarter valued at $25,000. Bell Investment Advisors Inc raised its stake in Citigroup by 72.1% in the 4th quarter. Bell Investment Advisors Inc now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. SkyView Investment Advisors LLC acquired a new position in Citigroup in the 1st quarter valued at $28,000. EWG Elevate Inc. acquired a new position in Citigroup in the 4th quarter valued at $29,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in Citigroup in the 4th quarter valued at $33,000. 70.90% of the stock is owned by institutional investors and hedge funds.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.