Riversedge Advisors LLC Buys Shares of 3,362 Citigroup Inc. (NYSE:C)

Riversedge Advisors LLC bought a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,362 shares of the company's stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% during the 4th 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 2.2% during the 4th 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 during the period. FMR LLC increased its holdings in Citigroup by 29.7% during the 4th 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 during the period. Franklin Resources Inc. increased its holdings in 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 acquiring an additional 2,804,850 shares during the period. Finally, Capital World Investors increased its holdings in Citigroup by 455.2% during the 4th 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 during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on C shares. Piper Sandler restated an "overweight" rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Morgan Stanley raised their price objective on shares of Citigroup from $94.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada lowered their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Citigroup from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, Bank of America raised their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.89.

Citigroup Price Performance

Shares of Citigroup stock opened at $86.73 on Friday. The firm has a market cap of $161.99 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $88.83. 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's fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $74.75.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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 business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Insider Transactions at Citigroup

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 shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares of the company's stock, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by company 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.

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