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

Citigroup (NYSE:C) had its price target upped by Morgan Stanley from $129.00 to $134.00 in a research note released on Wednesday, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on C. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. Piper Sandler raised their target price on Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. TD Cowen lifted their price target on Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, July 16th. Finally, Truist Financial lifted their price target on Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.90.

Citigroup Stock Down 0.1%

Shares of NYSE C opened at $99.73 on Wednesday. Citigroup has a 52 week low of $55.51 and a 52 week high of $105.59. The business has a 50-day simple moving average of $97.40 and a two-hundred day simple moving average of $84.27. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The company has a market cap of $183.59 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.87 and a beta of 1.37.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. During the same quarter in the prior year, the business earned $1.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

Hedge Funds Weigh In On Citigroup

Large investors have recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup during the 1st quarter valued at about $28,000. Accent Capital Management LLC raised its holdings in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Truvestments Capital LLC raised its holdings in shares of Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Citigroup during the 2nd quarter valued at about $34,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in shares of Citigroup by 157.1% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after buying an additional 253 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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.