Citigroup Inc (NYSE:C) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Monday, November 5th will be paid a dividend of 0.45 per share by the financial services provider on Wednesday, November 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.62%.
Citigroup has raised its dividend by an average of 188.4% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Citigroup has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Citigroup to earn $7.56 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 23.8%.
NYSE C traded down $1.22 during mid-day trading on Thursday, reaching $68.62. 18,157,506 shares of the stock were exchanged, compared to its average volume of 16,382,438. Citigroup has a 1-year low of $64.38 and a 1-year high of $80.70. The firm has a market cap of $184.38 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.00.
A number of equities analysts have weighed in on C shares. Zacks Investment Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Tuesday. BMO Capital Markets raised their target price on shares of Citigroup from $76.00 to $85.00 and gave the company a “market perform” rating in a research note on Monday, July 16th. Oppenheimer raised their target price on shares of Citigroup from $89.00 to $91.00 and gave the company an “outperformer” rating in a research note on Monday, July 16th. Goldman Sachs Group set a $78.00 target price on shares of Citigroup and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, Vining Sparks reissued a “buy” rating and issued a $77.00 target price on shares of Citigroup in a research note on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Citigroup currently has an average rating of “Buy” and a consensus price target of $82.91.
In other news, CEO Francisco Aristeguieta sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Further Reading: Buyback For Investors Defined
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