First Citizens Bank & Trust Co. Buys 246 Shares of Citigroup Inc. (NYSE:C)

First Citizens Bank & Trust Co. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,418 shares of the company’s stock after acquiring an additional 246 shares during the period. First Citizens Bank & Trust Co.’s holdings in Citigroup were worth $339,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Swedbank AB bought a new position in Citigroup in the first quarter valued at $253,286,000. Acadian Asset Management LLC grew its position in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP grew its position in shares of Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after acquiring an additional 1,988,494 shares during the period. Finally, DAVENPORT & Co LLC grew its position in shares of Citigroup by 1,749.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock valued at $82,985,000 after acquiring an additional 1,243,249 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Barclays raised their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Oppenheimer cut their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Price Performance

Shares of NYSE:C opened at $62.85 on Monday. The firm has a 50 day moving average of $61.35 and a 200-day moving average of $61.92. The stock has a market capitalization of $119.88 billion, a PE ratio of 17.61, a PEG ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. On average, equities research analysts predict that Citigroup Inc. will post 5.76 EPS for the current fiscal 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.