Citigroup (NYSE:C) Given New $107.00 Price Target at Morgan Stanley

Citigroup (NYSE:C) had its target price hoisted by Morgan Stanley from $103.00 to $107.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Cowen started coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Oppenheimer restated an “outperform” rating on shares of Citigroup in a research report on Monday, July 7th. TD Cowen began coverage on shares of Citigroup in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target on the stock. Finally, Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $96.46.

Citigroup Price Performance

C stock opened at $90.06 on Wednesday. Citigroup has a one year low of $53.51 and a one year high of $91.80. The company’s fifty day moving average price is $79.56 and its 200-day moving average price is $75.13. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $168.20 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.33%. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director owned 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Citigroup during the 4th quarter valued at approximately $274,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Citigroup by 9.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 74,215 shares of the company’s stock valued at $5,224,000 after buying an additional 6,340 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Citigroup by 8.2% during the 4th quarter. Parallel Advisors LLC now owns 31,279 shares of the company’s stock valued at $2,202,000 after buying an additional 2,380 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Citigroup by 194.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 16,740 shares of the company’s stock valued at $1,178,000 after buying an additional 11,051 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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.