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

Citigroup (NYSE:C - Get Free Report) had its price target upped by analysts at Morgan Stanley from $103.00 to $107.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 14.51% from the stock's previous close.

A number of other research analysts also recently weighed in on C. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Piper Sandler reiterated an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Bank of America raised their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. TD Cowen initiated coverage on Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.46.

Citigroup Trading Up 0.4%

C traded up $0.35 during midday trading on Wednesday, reaching $93.44. 16,590,582 shares of the company's stock traded hands, compared to its average volume of 14,675,328. The firm has a fifty day moving average of $80.43 and a two-hundred day moving average of $75.45. The stock has a market capitalization of $174.52 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup has a 52 week low of $53.51 and a 52 week high of $93.80.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business's revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that Citigroup will post 7.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction 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 directly owned 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citigroup

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Citigroup in the second quarter worth about $1,140,000. EWA LLC purchased a new position in shares of Citigroup during the second quarter valued at approximately $213,000. Pure Financial Advisors LLC purchased a new position in shares of Citigroup during the second quarter valued at approximately $454,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Citigroup by 63.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,085,496 shares of the company's stock valued at $262,637,000 after purchasing an additional 1,195,950 shares during the period. Finally, Woodward Diversified Capital LLC purchased a new stake in shares of Citigroup in the second quarter valued at approximately $418,000. 71.72% of the stock is owned by 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.