Alpha Cubed Investments LLC Buys 7,221 Shares of Citigroup Inc. (NYSE:C)

Alpha Cubed Investments LLC lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 246.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,151 shares of the company's stock after buying an additional 7,221 shares during the quarter. Alpha Cubed Investments LLC's holdings in Citigroup were worth $721,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Citigroup during the 4th quarter worth about $274,000. Vestmark Advisory Solutions Inc. bought a new stake in Citigroup during the 4th quarter worth about $210,000. PNC Financial Services Group Inc. raised its holdings in Citigroup by 1.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 379,623 shares of the company's stock worth $26,722,000 after purchasing an additional 6,475 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Citigroup during the 4th quarter worth about $69,000. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Down 0.4%

NYSE:C traded down $0.35 during trading hours on Friday, reaching $86.73. 10,251,072 shares of the stock were exchanged, compared to its average volume of 14,612,799. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $88.83. 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 firm has a 50 day moving average of $78.40 and a 200 day moving average of $74.75. The stock has a market cap of $161.99 billion, a PE ratio of 13.70, a PEG ratio of 0.68 and a beta of 1.34.

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

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 value of $301,504.42. Following the completion of the sale, the director owned 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

C has been the subject of several analyst reports. Morgan Stanley boosted their target price on Citigroup from $94.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Piper Sandler restated an "overweight" rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.37.

Citigroup Company 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.