Citigroup (NYSE:C) Given Overweight Rating at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Citigroup (NYSE:C) in a report released on Thursday, Benzinga reports. Morgan Stanley currently has a $65.00 price objective on the stock.

Several other analysts have also commented on the company. The Goldman Sachs Group reaffirmed a buy rating on shares of Citigroup in a research note on Monday, April 1st. Piper Sandler boosted their price target on Citigroup from $67.00 to $70.00 and gave the company an overweight rating in a research note on Monday, April 15th. Evercore ISI lifted their price objective on Citigroup from $58.00 to $60.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the company an outperform rating in a research report on Monday, June 17th. Finally, StockNews.com upgraded Citigroup from a sell rating to a hold rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup currently has a consensus rating of Moderate Buy and a consensus price target of $65.03.

Citigroup Stock Performance

C opened at $59.99 on Thursday. The firm has a market capitalization of $114.43 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.48. The stock’s 50 day moving average price is $61.70 and its two-hundred day moving average price is $57.45. 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 12-month low of $38.17 and a 12-month high of $64.98.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter last year, the firm posted $1.86 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Citigroup will post 5.9 earnings per share for the current year.

Citigroup Dividend Announcement

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 $0.53 dividend. The ex-dividend date was Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.53%. Citigroup’s payout ratio is 62.72%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after buying an additional 164 shares during the period. NorthRock Partners LLC grew its stake in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the period. Family Legacy Inc. grew its stake in shares of Citigroup by 2.9% in the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock valued at $400,000 after buying an additional 179 shares during the period. Accel Wealth Management grew its stake in shares of Citigroup by 3.9% in the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock valued at $311,000 after buying an additional 185 shares during the period. Finally, Massachusetts Wealth Management grew its stake in shares of Citigroup by 0.5% in the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after buying an additional 192 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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.