Morgan Stanley Reaffirms Overweight Rating for Citigroup (NYSE:C)

Citigroup (NYSE:C)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a report released on Monday. They presently have a $90.00 price target on the financial services provider’s stock, up from their prior price target of $84.00. Morgan Stanley’s price objective would suggest a potential upside of 20.97% from the company’s previous close.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $77.50 to $84.50 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Vining Sparks raised shares of Citigroup to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, October 9th. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Bank of America upped their price target on shares of Citigroup from $78.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $81.28.

Shares of NYSE:C remained flat at $$74.40 during trading on Monday. 8,019,852 shares of the stock were exchanged, compared to its average volume of 14,309,212. The firm’s fifty day moving average is $71.73 and its two-hundred day moving average is $68.54. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.36. The firm has a market cap of $161.21 billion, a PE ratio of 11.19, a P/E/G ratio of 0.84 and a beta of 1.80. Citigroup has a twelve month low of $48.42 and a twelve month high of $76.28.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.12. The business had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.54 billion. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. Equities analysts anticipate that Citigroup will post 7.58 earnings per share for the current fiscal year.

In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total transaction of $465,225.00. Following the transaction, the insider now directly owns 93,848 shares in the company, valued at approximately $5,821,391.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. raised its holdings in Citigroup by 95.1% in the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 835 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Citigroup by 4.3% during the second quarter. Private Trust Co. NA now owns 13,579 shares of the financial services provider’s stock valued at $950,000 after buying an additional 558 shares during the period. Baystate Wealth Management LLC lifted its stake in shares of Citigroup by 376.7% during the second quarter. Baystate Wealth Management LLC now owns 634 shares of the financial services provider’s stock valued at $45,000 after buying an additional 501 shares during the period. Swedbank lifted its stake in shares of Citigroup by 0.5% during the second quarter. Swedbank now owns 2,963,889 shares of the financial services provider’s stock valued at $207,561,000 after buying an additional 14,933 shares during the period. Finally, Rockland Trust Co. lifted its stake in shares of Citigroup by 30.5% during the second quarter. Rockland Trust Co. now owns 4,611 shares of the financial services provider’s stock valued at $323,000 after buying an additional 1,077 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Analyst Recommendations for Citigroup (NYSE:C)

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