5,651 Shares in Citigroup Inc. (NYSE:C) Purchased by Novare Capital Management LLC

Novare Capital Management LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 5,651 shares of the company’s stock, valued at approximately $401,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after acquiring an additional 11,674 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Citigroup by 30.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,876,682 shares of the company’s stock worth $132,100,000 after acquiring an additional 434,280 shares during the last quarter. Finally, Kennedy Investment Group bought a new position in Citigroup during the 1st quarter worth approximately $285,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $88.67 on Friday. The company has a market capitalization of $165.61 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $88.80. The firm’s 50 day moving average is $76.63 and its 200-day moving average is $74.20. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share 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 the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Evercore ISI raised their target price on shares of Citigroup from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Wednesday. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a “hold” rating on the stock. Finally, TD Cowen assumed coverage on shares of Citigroup in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.43.

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.