Citigroup (NYSE:C) Upgraded to “Overweight” by Morgan Stanley

Morgan Stanley upgraded shares of Citigroup (NYSE:CFree Report) from an underweight rating to an overweight rating in a report released on Tuesday, MarketBeat reports. Morgan Stanley currently has $65.00 price objective on the stock, up from their prior price objective of $46.00.

A number of other research firms have also issued reports on C. Societe Generale lowered Citigroup from a hold rating to a sell rating in a report on Monday, January 8th. BMO Capital Markets lowered Citigroup from an outperform rating to a market perform rating and set a $57.00 target price on the stock. in a report on Wednesday, January 10th. Bank of America lowered their target price on Citigroup from $60.00 to $50.00 in a report on Tuesday, October 10th. Wolfe Research raised Citigroup from a peer perform rating to an outperform rating and set a $58.00 price objective on the stock in a report on Wednesday, January 3rd. Finally, HSBC raised Citigroup from a hold rating to a buy rating and lifted their price objective for the stock from $42.00 to $61.00 in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $56.62.

Read Our Latest Stock Report on Citigroup

Citigroup Stock Up 5.5 %

Shares of C stock opened at $57.09 on Tuesday. The stock’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $45.36. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.94 and a current ratio of 0.95. Citigroup has a twelve month low of $38.17 and a twelve month high of $57.20. The company has a market capitalization of $109.26 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.46 and a beta of 1.57.

Citigroup (NYSE:CGet Free Report) last released its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). The business had revenue of $17.44 billion during the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS. As a group, research analysts predict that Citigroup will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.71%. The ex-dividend date is Friday, February 2nd. Citigroup’s dividend payout ratio is 53.13%.

Hedge Funds Weigh In On Citigroup

Several institutional investors have recently bought and sold shares of C. Panagora Asset Management Inc. raised its position in Citigroup by 24.5% in the 1st quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after purchasing an additional 5,853 shares during the last quarter. Zions Bancorporation N.A. raised its position in Citigroup by 50.5% in the 1st quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after purchasing an additional 2,100 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Citigroup by 20.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after purchasing an additional 907 shares during the last quarter. Ergoteles LLC bought a new position in Citigroup in the 1st quarter valued at $761,000. Finally, Halbert Hargrove Global Advisors LLC raised its position in Citigroup by 7.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.

About Citigroup

(Get Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

Further Reading

Analyst Recommendations for Citigroup (NYSE:C)

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