Citigroup (NYSE:C) PT Raised to $66.00

Citigroup (NYSE:C) had its price target raised by Morgan Stanley from $65.00 to $66.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 1.89% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Jefferies Financial Group lifted their price target on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI lifted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Piper Sandler lifted their price target on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Oppenheimer decreased their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.27.

Citigroup Stock Up 3.3 %

Shares of Citigroup stock opened at $67.27 on Monday. The business’s fifty day moving average price is $62.84 and its two-hundred day moving average price is $59.21. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $128.31 billion, a P/E ratio of 18.84, a PEG ratio of 0.91 and a beta of 1.46. Citigroup has a 1-year low of $38.17 and a 1-year high of $67.52.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.27% and a net margin of 4.95%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. As a group, research analysts forecast that Citigroup will post 5.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Kentucky Retirement Systems raised its holdings in Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock valued at $7,877,000 after acquiring an additional 3,808 shares in the last quarter. Simplicity Solutions LLC raised its holdings in Citigroup by 17.6% in the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after acquiring an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Citigroup by 56.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares in the last quarter. GFS Advisors LLC acquired a new position in Citigroup in the 4th quarter valued at approximately $2,003,000. Finally, TD Asset Management Inc raised its holdings in Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after acquiring an additional 173,137 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.