ARGA Investment Management LP Takes $833,000 Position in Citigroup Inc. (NYSE:C)

ARGA Investment Management LP bought a new stake in Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,735 shares of the company's stock, valued at approximately $833,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. FMR LLC raised its stake in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. raised its stake in Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its stake in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler restated an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley raised their price target on Citigroup from $94.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada decreased their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.37.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the business's 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 directly owned 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup Stock Down 0.4%

Citigroup stock traded down $0.35 during midday trading on Friday, reaching $86.73. The stock had a trading volume of 10,251,072 shares, compared to its average volume of 14,612,799. The firm'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. The stock has a market capitalization of $161.99 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98.

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