Citigroup (NYSE:C) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Citigroup (NYSE:C) had its target price boosted by stock analysts at Morgan Stanley from $104.00 to $109.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 39.26% from the company’s current price.

A number of other research firms have also recently weighed in on C. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.00 during trading on Thursday, reaching $78.27. 12,208,627 shares of the company’s stock were exchanged, compared to its average volume of 17,870,994. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup has a 1-year low of $50.51 and a 1-year high of $79.25. The company has a market cap of $148.03 billion, a P/E ratio of 22.69, a PEG ratio of 0.59 and a beta of 1.43. The firm’s 50-day moving average price is $70.78 and its 200 day moving average price is $65.32.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, research analysts anticipate that Citigroup will post 5.88 earnings per share for the current year.

Citigroup declared that its board has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Citigroup

A number of institutional investors and hedge funds have recently made changes to their positions in C. American Century Companies Inc. increased its stake in Citigroup by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock valued at $21,538,000 after purchasing an additional 7,778 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Citigroup by 17.1% during the second quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock worth $1,101,000 after acquiring an additional 2,539 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Citigroup by 20.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company’s stock worth $14,667,000 after acquiring an additional 39,725 shares during the last quarter. Argent Trust Co lifted its position in Citigroup by 2.5% in the 2nd quarter. Argent Trust Co now owns 57,575 shares of the company’s stock valued at $3,654,000 after acquiring an additional 1,394 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in Citigroup by 3.8% in the 2nd quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock valued at $9,622,000 after acquiring an additional 5,481 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

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.