Onyx Bridge Wealth Group LLC Invests $214,000 in Citigroup Inc. (NYSE:C)

Onyx Bridge Wealth Group LLC purchased a new position in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,008 shares of the company's stock, valued at approximately $214,000.

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

Citigroup Stock Up 2.2%

Citigroup stock traded up $1.91 on Friday, hitting $88.67. 13,229,886 shares of the stock traded hands, compared to its average volume of 14,658,879. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a market cap of $165.61 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34. The business's fifty day simple moving average is $76.63 and its 200 day simple moving average is $74.24. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $88.80.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion during 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, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Wall Street Analyst Weigh In

C has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley increased their price target on shares of Citigroup from $94.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Piper Sandler reiterated an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, TD Cowen started coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $85.43.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company's stock.

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.