NuWave Investment Management LLC purchased a new position in shares of Citigroup Inc (NYSE:C) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,154 shares of the financial services provider’s stock, valued at approximately $160,000.
Several other hedge funds also recently added to or reduced their stakes in C. Wealth Quarterback LLC acquired a new position in Citigroup in the fourth quarter worth $17,296,742,000. Massachusetts Financial Services Co. MA boosted its holdings in Citigroup by 2.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 34,472,019 shares of the financial services provider’s stock worth $1,451,962,000 after purchasing an additional 961,095 shares during the period. Bank of New York Mellon Corp boosted its holdings in Citigroup by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 33,904,405 shares of the financial services provider’s stock worth $1,428,052,000 after purchasing an additional 710,927 shares during the period. Geode Capital Management LLC boosted its holdings in Citigroup by 2.0% in the first quarter. Geode Capital Management LLC now owns 32,582,914 shares of the financial services provider’s stock worth $1,370,137,000 after purchasing an additional 647,139 shares during the period. Finally, Norges Bank acquired a new position in Citigroup in the fourth quarter worth $2,180,333,000. 77.29% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on C. Wells Fargo & Co boosted their price target on shares of Citigroup from $60.00 to $72.00 in a report on Friday, June 5th. BMO Capital Markets reduced their price target on shares of Citigroup from $71.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Odeon Capital Group raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $56.30 price target for the company in a report on Tuesday, June 2nd. Societe Generale raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Finally, UBS Group lifted their price objective on shares of Citigroup from $50.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Citigroup presently has an average rating of “Buy” and a consensus price target of $73.85.
Shares of NYSE:C opened at $52.24 on Tuesday. The firm has a fifty day moving average of $51.86 and a two-hundred day moving average of $58.19. The firm has a market capitalization of $109.61 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.82. Citigroup Inc has a 12-month low of $32.00 and a 12-month high of $83.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.52.
Citigroup (NYSE:C) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $18.98 billion. Citigroup had a net margin of 16.56% and a return on equity of 9.15%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. Equities research analysts expect that Citigroup Inc will post 3.25 earnings per share for the current fiscal year.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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