Citigroup (NYSE:C) Price Target Raised to $65.00

Citigroup (NYSE:C) had its target price increased by BMO Capital Markets from $63.00 to $65.00 in a research report released on Thursday morning. The brokerage currently has a market perform rating on the stock.

A number of other equities research analysts have also recently weighed in on C. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a market perform rating in a report on Thursday, June 20th. HSBC upped their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a buy rating in a report on Thursday, March 28th. Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an in-line rating in a report on Wednesday, July 3rd. StockNews.com upgraded shares of Citigroup from a sell rating to a hold rating in a report on Tuesday, March 19th. Finally, Morgan Stanley reiterated an overweight rating and set a $65.00 price target on shares of Citigroup in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $65.66.

Citigroup Stock Performance

Shares of NYSE:C opened at $64.52 on Thursday. The company has a market cap of $123.07 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.46. The company has a 50-day moving average price of $62.68 and a 200-day moving average price of $58.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup has a 12 month low of $38.17 and a 12 month high of $66.99.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.12. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. Citigroup’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup will post 5.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the period. Norges Bank bought a new position in Citigroup in the fourth quarter worth approximately $867,599,000. Bank of New York Mellon Corp raised its position in Citigroup by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after acquiring an additional 4,620,867 shares during the period. International Assets Investment Management LLC bought a new position in Citigroup in the fourth quarter worth approximately $2,109,120,000. Finally, Swedbank AB bought a new position in Citigroup in the first quarter worth approximately $253,286,000. 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.