Citigroup Inc. (NYSE:C) announced a quarterly dividend on Wednesday, October 18th, RTT News reports. Investors of record on Monday, November 6th will be paid a dividend of 0.32 per share by the financial services provider on Wednesday, November 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, November 3rd.
Citigroup has increased its dividend payment by an average of 119.0% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Citigroup has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Citigroup to earn $5.94 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 21.5%.
Shares of Citigroup (NYSE:C) traded down 0.19% during trading on Friday, hitting $73.65. 6,187,227 shares of the stock traded hands. Citigroup has a 52 week low of $47.70 and a 52 week high of $76.14. The company has a 50-day moving average of $71.88 and a 200-day moving average of $66.15. The firm has a market cap of $194.73 billion, a P/E ratio of 14.22 and a beta of 1.45.
Citigroup (NYSE:C) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The business had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. Citigroup’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Citigroup will post $5.32 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on C shares. BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price objective for the company. in a research note on Monday, July 3rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Citigroup in a research note on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Citigroup has an average rating of “Buy” and an average target price of $74.77.
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In related news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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