ZRC Wealth Management LLC Decreases Position in Citigroup Inc. (NYSE:C)

ZRC Wealth Management LLC decreased its position in Citigroup Inc. (NYSE:C) by 37.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000 shares of the company’s stock after selling 600 shares during the period. ZRC Wealth Management LLC’s holdings in Citigroup were worth $63,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of C. Tejara Capital Ltd purchased a new position in Citigroup during the 3rd quarter valued at about $18,768,000. Glenmede Trust Co. NA increased its holdings in Citigroup by 35.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 149,282 shares of the company’s stock worth $6,140,000 after acquiring an additional 38,761 shares during the period. EJF Capital LLC lifted its stake in Citigroup by 100.0% in the 3rd quarter. EJF Capital LLC now owns 10,000 shares of the company’s stock worth $411,000 after purchasing an additional 5,000 shares in the last quarter. Seven Eight Capital LP boosted its holdings in Citigroup by 206.6% in the 3rd quarter. Seven Eight Capital LP now owns 57,120 shares of the company’s stock valued at $2,349,000 after purchasing an additional 38,488 shares during the period. Finally, Round Hill Asset Management raised its position in shares of Citigroup by 28.6% in the third quarter. Round Hill Asset Management now owns 25,684 shares of the company’s stock worth $1,056,000 after buying an additional 5,705 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI raised their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday. Jefferies Financial Group upped their price objective on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Citigroup in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $65.16.

Citigroup Stock Performance

NYSE:C opened at $64.46 on Friday. The firm’s fifty day simple moving average is $62.25 and its 200 day simple moving average is $58.27. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $65.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market cap of $122.95 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 EPS. As a group, research analysts predict that Citigroup Inc. will post 5.86 EPS for the current year.

About Citigroup

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.