Citigroup (NYSE:C) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Citigroup (NYSE:C) in a research note released on Thursday morning, Benzinga reports. They currently have a $65.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company reaffirmed an overweight rating and issued a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. HSBC upped their target price on Citigroup from $61.00 to $70.00 and gave the company a buy rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their price target on Citigroup from $56.00 to $65.00 and gave the company a hold rating in a research note on Monday, April 8th. Evercore ISI boosted their price target on Citigroup from $58.00 to $60.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group reiterated a buy rating on shares of Citigroup in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of Moderate Buy and an average price target of $65.03.

Citigroup Price Performance

Shares of NYSE C opened at $60.65 on Thursday. The business’s 50 day moving average price is $61.70 and its two-hundred day moving average price is $57.27. The company has a market cap of $115.69 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.91 and a beta of 1.48. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a twelve month low of $38.17 and a twelve month high of $64.98.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, analysts predict that Citigroup will post 5.96 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Citigroup in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup in the 4th quarter valued at $29,000. Beacon Capital Management LLC increased its holdings in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Citigroup in the fourth quarter valued at $35,000. 71.72% of the stock is currently 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.