Citigroup (NYSE:C) Given New $109.00 Price Target at Morgan Stanley

Citigroup (NYSE:C) had its price objective boosted by equities research analysts at Morgan Stanley from $104.00 to $109.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 39.26% from the stock’s current price.

Several other research firms have also weighed in on C. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Up 0.0 %

Citigroup stock traded up $0.00 during mid-day trading on Thursday, reaching $78.27. The company’s stock had a trading volume of 12,208,627 shares, 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 12 month low of $50.51 and a 12 month high of $79.25. The business’s 50 day simple moving average is $70.78 and its 200 day simple moving average is $65.32. The company has a market capitalization of $148.03 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.

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

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Citigroup

A number of hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup in the second quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Citigroup during the fourth quarter worth about $44,000. 71.72% of the stock is 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.