Citigroup (NYSE:C) Given New $94.00 Price Target at Morgan Stanley

Citigroup (NYSE:C) had its price objective hoisted by Morgan Stanley from $90.00 to $94.00 in a report released on Monday morning, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their target price on Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Oppenheimer restated an “outperform” rating on shares of Citigroup in a research report on Tuesday, May 20th. TD Cowen initiated coverage on shares of Citigroup in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Royal Bank Of Canada decreased their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $83.30.

Citigroup Stock Up 1.8%

C stock opened at $82.64 on Monday. The firm’s 50-day moving average is $73.68 and its two-hundred day moving average is $73.45. The company has a market capitalization of $154.35 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.33. Citigroup has a 52 week low of $53.51 and a 52 week high of $84.74. 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 posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. On average, analysts forecast that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.71%. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated 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 sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Citigroup during the 4th quarter valued at about $1,935,599,000. Capital World Investors grew its holdings in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC acquired a new stake in shares of Citigroup in the first quarter worth $578,100,000. Finally, FMR LLC lifted its stake 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 last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

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.