Trek Financial LLC Buys New Stake in Citigroup Inc. (NYSE:C)

Trek Financial LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 40,085 shares of the company's stock, valued at approximately $2,846,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Citigroup during the 4th quarter worth $1,935,599,000. Capital World Investors increased 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 during the period. FMR LLC increased 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 during the period. Franklin Resources Inc. increased 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 during the period. Finally, Capital International Investors increased its stake in shares of Citigroup by 148.6% during the fourth quarter. Capital International Investors now owns 4,524,890 shares of the company's stock worth $318,507,000 after acquiring an additional 2,704,783 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on C. Bank of America raised their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of Citigroup from $94.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday. 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 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $85.43.

Citigroup Trading Down 1.5%

Citigroup stock traded down $1.31 during trading on Tuesday, reaching $86.29. The company had a trading volume of 1,595,469 shares, compared to its average volume of 14,601,247. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $88.83. The stock's 50 day moving average price is $77.01 and its two-hundred day moving average price is $74.37. The firm has a market capitalization of $161.16 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.69 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 issued its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the company'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 completion of the transaction, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.