Citigroup (NYSE:C) Upgraded to “Overweight” by Morgan Stanley

Morgan Stanley upgraded shares of Citigroup (NYSE:CFree Report) from an underweight rating to an overweight rating in a report issued on Tuesday, MarketBeat reports. They currently have $65.00 price target on the stock, up from their prior price target of $46.00.

C has been the subject of several other reports. HSBC raised Citigroup from a hold rating to a buy rating and upped their target price for the stock from $42.00 to $61.00 in a research note on Tuesday, January 9th. The Goldman Sachs Group increased their price objective on Citigroup from $47.00 to $52.00 and gave the company a neutral rating in a research note on Tuesday, December 19th. Jefferies Financial Group reduced their price objective on Citigroup from $47.00 to $43.00 in a research note on Tuesday, October 10th. TheStreet raised Citigroup from a c+ rating to a b- rating in a research note on Wednesday, December 13th. Finally, Societe Generale downgraded Citigroup from a hold rating to a sell rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has a consensus rating of Hold and an average price target of $56.62.

Check Out Our Latest Stock Analysis on C

Citigroup Trading Up 0.0 %

Shares of C stock opened at $55.55 on Tuesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market cap of $106.32 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.52 and a beta of 1.52. The stock has a 50 day simple moving average of $51.17 and a 200-day simple moving average of $45.58. Citigroup has a 1-year low of $38.17 and a 1-year high of $57.95.

Citigroup (NYSE:CGet Free Report) last announced its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. On average, equities research analysts expect that Citigroup will post 6 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, February 2nd. Citigroup’s dividend payout ratio is presently 53.13%.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of C. Panagora Asset Management Inc. boosted its holdings in Citigroup by 24.5% during the 1st quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after acquiring an additional 5,853 shares during the period. Zions Bancorporation N.A. raised its position in Citigroup by 50.5% in the 1st quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after purchasing an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Citigroup by 20.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after purchasing an additional 907 shares in the last quarter. Ergoteles LLC acquired a new stake in Citigroup in the 1st quarter valued at about $761,000. Finally, Halbert Hargrove Global Advisors LLC raised its position in Citigroup by 7.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after purchasing an additional 268 shares in the last quarter. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Company Profile

(Get Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

Recommended Stories

Analyst Recommendations for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.