Morgan Stanley Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its price target increased by equities research analysts at Morgan Stanley from $90.00 to $94.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 19.03% from the company’s current price.

Other analysts have also issued research reports about the company. Cowen started coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Finally, Evercore ISI decreased their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.30.

Citigroup Trading Up 0.7%

NYSE C traded up $0.52 during trading on Monday, hitting $78.97. The stock had a trading volume of 6,431,746 shares, compared to its average volume of 14,478,693. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $147.49 billion, a PE ratio of 12.48, a PEG ratio of 0.60 and a beta of 1.33. The firm has a 50 day moving average price of $72.60 and a 200 day moving average price of $73.28. Citigroup has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, equities research analysts forecast that Citigroup will post 7.53 earnings per share for the current year.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in Citigroup during the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter worth $28,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. American National Bank & Trust acquired a new stake in Citigroup in the first quarter valued at $29,000. Finally, Truvestments Capital LLC boosted its position in shares of Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after purchasing an additional 246 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

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.