nVerses Capital LLC Cuts Position in Citigroup Inc. (NYSE:C)

nVerses Capital LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 78.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,600 shares of the company’s stock after selling 9,300 shares during the quarter. nVerses Capital LLC’s holdings in Citigroup were worth $163,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lloyd Advisory Services LLC. raised its holdings in shares of Citigroup by 355.9% during the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after buying an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Citigroup by 13.4% in the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares during the period. BDF Gestion acquired a new stake in Citigroup during the 2nd quarter valued at $3,861,000. Finally, New Mexico Educational Retirement Board increased its stake in Citigroup by 13.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock worth $7,300,000 after buying an additional 14,100 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on C shares. Barclays upped their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America lifted their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday. Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group dropped their price target 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. Finally, Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Stock Performance

C stock opened at $62.85 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The stock has a market capitalization of $119.88 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.74 and a beta of 1.44. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s fifty day moving average is $61.35 and its two-hundred day moving average is $61.92.

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