OVERSEA CHINESE BANKING Corp Ltd Purchases 649,807 Shares of Citigroup Inc. (NYSE:C)

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 109.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,246,061 shares of the company's stock after purchasing an additional 649,807 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.07% of Citigroup worth $88,458,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup in the 4th quarter valued at about $34,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Citigroup in the 4th quarter valued at about $39,000. Institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on C shares. Piper Sandler restated an "overweight" rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced 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. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Royal Bank Of Canada reduced 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. Finally, Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.89.

Citigroup Stock Performance

Citigroup stock opened at $86.73 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $161.99 billion, a P/E ratio of 13.70, a PEG ratio of 0.67 and a beta of 1.34. The stock's 50 day moving average is $78.40 and its 200 day moving average is $74.80. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $88.83.

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 company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. On average, equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the 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 transaction, the director directly owned 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.

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