Citigroup (NYSE:C) Price Target Raised to $86.00 at Morgan Stanley

Citigroup (NYSE:C) had its target price raised by analysts at Morgan Stanley from $79.00 to $86.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 39.09% from the stock’s previous close.

A number of other analysts also recently commented on the company. The Goldman Sachs Group lowered their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Royal Bank of Canada increased their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer raised their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Evercore ISI raised their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.69.

Citigroup Stock Down 1.2 %

Shares of C opened at $61.83 on Monday. Citigroup has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $117.94 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.69 and a beta of 1.45. The stock’s 50-day moving average price is $60.76 and its 200-day moving average price is $61.74.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Citigroup will post 5.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in C. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares during the period. Swedbank AB bought a new stake in Citigroup in the first quarter valued at about $253,286,000. Acadian Asset Management LLC grew its stake in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the last quarter. Caxton Associates LP grew its stake in shares of Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Citigroup by 873.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after purchasing an additional 1,919,170 shares during the last quarter. Institutional investors and hedge funds 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.