Pinnacle Financial Partners Inc Acquires 15,436 Shares of Citigroup Inc. (NYSE:C)

Pinnacle Financial Partners Inc increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 495.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,554 shares of the company's stock after acquiring an additional 15,436 shares during the period. Pinnacle Financial Partners Inc's holdings in Citigroup were worth $1,317,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $1,935,599,000. Capital World Investors grew its position 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. FMR LLC increased its stake in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Citigroup during the 4th quarter worth about $198,231,000. Finally, Franklin Resources Inc. boosted its stake in shares of Citigroup by 9.3% during the 4th 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. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on C shares. Truist Financial lowered their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI raised their price target on Citigroup from $76.00 to $77.00 and gave the company an "in-line" rating in a research note on Wednesday. Cowen began coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Finally, Morgan Stanley raised their target price on shares of Citigroup from $94.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.43.

Citigroup Stock Performance

Citigroup stock traded up $1.91 during mid-day trading on Friday, hitting $88.67. 13,229,886 shares of the company's stock traded hands, compared to its average volume of 14,629,018. 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 simple moving average of $76.22 and a two-hundred day simple moving average of $74.04. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $88.80. The stock has a market cap of $165.61 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.67 and a beta of 1.34.

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

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director directly 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 legal filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

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.