49 Wealth Management LLC Takes Position in Citigroup Inc. (NYSE:C)

49 Wealth Management LLC bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,190 shares of the company's stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of C. Norges Bank purchased a new position in shares of Citigroup in the fourth quarter worth $1,935,599,000. Capital World Investors raised its holdings in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. FMR LLC raised its holdings in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after buying an additional 2,804,850 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Citigroup by 148.6% in the fourth quarter. Capital International Investors now owns 4,524,890 shares of the company's stock worth $318,507,000 after buying an additional 2,704,783 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

C has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a report on Monday. Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Wall Street Zen cut shares of Citigroup from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group raised their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.37.

Citigroup Stock Performance

C stock traded down $0.35 during midday trading on Friday, hitting $86.73. 10,251,072 shares of the stock traded hands, compared to its average volume of 14,612,799. The firm has a market cap of $161.99 billion, a P/E ratio of 13.70, a PEG ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The stock's fifty day simple moving average is $78.40 and its 200-day simple moving average is $74.75. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $88.83.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Profile

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.