why Citigroup Inc. [C] is a Good Choice for Investors After New Price Target of $60.65

Citigroup Inc. [NYSE: C] stock went on an upward path that rose over 0.70% on Friday, amounting to a one-week price increase of more than 5.27%. The company report on August 4, 2022 that Chesapeake Utilities Corporation Announces Quarterly Dividend.


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At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.535 per share on the Company’s common stock. The $0.535 per share dividend will be paid on October 5, 2022 to all shareholders of record at the close of business on September 15, 2022.

Chesapeake has paid dividends to its shareholders without interruption for 61 years and has increased its annualized dividend every year since 2004.

Over the last 12 months, C stock dropped by -26.64%. The one-year Citigroup Inc. stock forecast points to a potential upside of 10.34. The average equity rating for C stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $104.58 billion, with 1.94 billion shares outstanding and 1.93 billion shares in the current float. Compared to the average trading volume of 22.24M shares, C stock reached a trading volume of 15397049 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Citigroup Inc. [C]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for C shares is $60.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on C stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Citigroup Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 27, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $75 to $60. The new note on the price target was released on March 28, 2022, representing the official price target for Citigroup Inc. stock. Previously, the target price had yet another drop from $79 to $60, while Jefferies kept a Hold rating on C stock. On March 03, 2022, analysts decreased their price target for C shares from 81 to 64.

The Average True Range (ATR) for Citigroup Inc. is set at 1.37, with the Price to Sales ratio for C stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 506.29. Price to Free Cash Flow for C in the course of the last twelve months was 4.09.

C Stock Performance Analysis:

Citigroup Inc. [C] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.27. With this latest performance, C shares gained by 23.20% in over the last four-week period, additionally sinking by -19.44% over the last 6 months – not to mention a drop of -26.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for C stock in for the last two-week period is set at 67.45, with the RSI for the last a single of trading hit 73.67, and the three-weeks RSI is set at 62.76 for Citigroup Inc. [C]. The present Moving Average for the last 50 days of trading for this stock 49.47, while it was recorded at 53.03 for the last single week of trading, and 57.04 for the last 200 days.

Insight into Citigroup Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Citigroup Inc. [C] shares currently have an operating margin of +34.52. Citigroup Inc.’s Net Margin is presently recorded at +27.18.

Return on Equity for this stock inclined to 10.86, with Return on Assets sitting at 0.96.

C Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for C. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Citigroup Inc. go to -10.62%.

Citigroup Inc. [C] Insider Position Details

There are presently around $77,600 million, or 76.80% of C stock, in the hands of institutional investors. The top three institutional holders of C stocks are: VANGUARD GROUP INC with ownership of 164,361,727, which is approximately -2.562% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 162,806,013 shares of the stock with an approximate value of $8.85 billion in C stocks shares; and STATE STREET CORP, currently with $5.07 billion in C stock with ownership of nearly 1.351% of the company’s market capitalization.

Positions in Citigroup Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 827 institutional holders increased their position in Citigroup Inc. [NYSE:C] by around 131,844,363 shares. Additionally, 847 investors decreased positions by around 135,077,172 shares, while 205 investors held positions by with 1,160,072,295 shares. The mentioned changes placed institutional holdings at 1,426,993,830 shares, according to the latest SEC report filing. C stock had 117 new institutional investments in for a total of 67,673,377 shares, while 195 institutional investors sold positions of 9,625,867 shares during the same period.

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