Citigroup Inc. (C) To Go Ex-Dividend on February 3rd

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Tuesday, January 14th,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.56 per share on Friday, February 28th. This represents a $2.24 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd.

Citigroup has raised its dividend by an average of 2.2% per year over the last three years. Citigroup has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $9.34 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 24.0%.

Citigroup Trading Down 0.5 %

Shares of C stock opened at $81.43 on Friday. The stock has a 50-day moving average of $73.67 and a 200-day moving average of $66.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $154.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. Citigroup has a 1-year low of $52.24 and a 1-year high of $82.77.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, equities research analysts forecast that Citigroup will post 7.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Citigroup Company Profile

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.