Citigroup (NYSE:C) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Citigroup (NYSE:CGet Free Report) had its price target upped by analysts at Morgan Stanley from $90.00 to $94.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 15.83% from the stock’s current price.

Several other brokerages also recently commented on C. TD Cowen began coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Evercore ISI cut their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.30.

Read Our Latest Stock Report on C

Citigroup Price Performance

C opened at $81.15 on Monday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $151.57 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.61 and a beta of 1.33. The stock’s 50 day moving average price is $73.27 and its 200-day moving average price is $73.38. Citigroup has a 52-week low of $53.51 and a 52-week high of $84.74.

Citigroup (NYSE:CGet Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. On average, equities research analysts predict that Citigroup will post 7.53 EPS for the current year.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after buying an additional 667,357 shares during the last quarter. FMR LLC raised its holdings in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. raised its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after buying an additional 2,804,850 shares during the period. Finally, Capital World Investors lifted its stake in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Company Profile

(Get Free Report)

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.

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