Citigroup (NYSE:C) Price Target Raised to $103.00 at Morgan Stanley

Citigroup (NYSE:C) had its price target boosted by equities research analysts at Morgan Stanley from $94.00 to $103.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 16.16% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada reduced their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a research report on Tuesday, May 20th. Finally, TD Cowen initiated coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.43.

Citigroup Price Performance

Shares of C opened at $88.67 on Thursday. The company has a market cap of $165.61 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.69 and a beta of 1.34. Citigroup has a 1-year low of $53.51 and a 1-year high of $88.80. The company’s fifty day simple moving average is $76.63 and its 200 day simple moving average is $74.16. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. On average, research analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director owned 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Large investors have recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after buying an additional 11,674 shares in the last quarter. Invesco Ltd. grew its stake in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares in the last quarter. Candriam S.C.A. grew its stake in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after buying an additional 22,657 shares in the last quarter. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Citigroup by 30.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,876,682 shares of the company’s stock worth $132,100,000 after buying an additional 434,280 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

About Citigroup

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.