Citigroup Inc. (C) Upgraded by Morgan Stanley to “Overweight”
Morgan Stanley upgraded shares of Citigroup Inc. (NYSE:C) from an equal weight rating to an overweight rating in a report issued on Wednesday morning. They currently have $70.00 price objective on the financial services provider’s stock.
A number of other equities analysts have also recently weighed in on C. Jefferies Group set a $36.00 price objective on shares of Citigroup and gave the stock a buy rating in a research report on Saturday, November 19th. Vetr cut shares of Citigroup from a hold rating to a sell rating and set a $48.96 price objective for the company. in a research report on Wednesday, November 9th. Compass Point assumed coverage on shares of Citigroup in a research report on Tuesday, October 11th. They set a sell rating and a $39.00 price objective for the company. increased their price objective on shares of Citigroup from $61.00 to $63.00 and gave the stock a buy rating in a research report on Friday, September 23rd. Finally, Argus reaffirmed a hold rating on shares of Citigroup in a research report on Tuesday, October 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. Citigroup presently has a consensus rating of Hold and a consensus price target of $56.72.
Citigroup (NYSE:C) opened at 56.39 on Wednesday. The stock has a market capitalization of $160.70 billion, a price-to-earnings ratio of 12.26 and a beta of 1.74. The firm has a 50-day moving average of $51.32 and a 200 day moving average of $46.71. Citigroup has a 12-month low of $34.52 and a 12-month high of $56.83.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The firm earned $17.80 billion during the quarter, compared to analysts’ expectations of $17.32 billion. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. On average, analysts predict that Citigroup will post $4.70 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 13.91%.
Several hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Citigroup during the third quarter worth about $790,297,000. Emerald Acquisition Ltd. acquired a new position in shares of Citigroup during the second quarter worth about $500,315,000. Vanguard Group Inc. boosted its position in shares of Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock worth $7,420,348,000 after buying an additional 5,872,249 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Citigroup by 71.5% in the third quarter. Capital Research Global Investors now owns 13,970,704 shares of the financial services provider’s stock worth $659,836,000 after buying an additional 5,824,755 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Citigroup by 38.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,929,535 shares of the financial services provider’s stock worth $760,033,000 after buying an additional 4,966,503 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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