Suntrust Banks Inc. increased its stake in shares of Citigroup Inc (NYSE:C) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,341 shares of the financial services provider’s stock after purchasing an additional 22,037 shares during the quarter. Suntrust Banks Inc.’s holdings in Citigroup were worth $17,234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in C. ValueAct Holdings L.P. purchased a new stake in Citigroup during the fourth quarter worth about $81,851,000. MetLife Investment Advisors LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $60,873,000. Synovus Financial Corp boosted its position in shares of Citigroup by 38.8% in the fourth quarter. Synovus Financial Corp now owns 135,424 shares of the financial services provider’s stock valued at $10,074,000 after acquiring an additional 37,843 shares during the period. CNB Bank boosted its position in shares of Citigroup by 27.5% in the first quarter. CNB Bank now owns 7,419 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 1,601 shares during the period. Finally, USA Financial Portformulas Corp boosted its position in shares of Citigroup by 1,113.7% in the fourth quarter. USA Financial Portformulas Corp now owns 50,088 shares of the financial services provider’s stock valued at $3,727,000 after acquiring an additional 45,961 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.

In other news, CFO John C. Gerspach sold 12,966 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total value of $937,571.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by company insiders.

Several equities research analysts have issued reports on C shares. UBS Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and lifted their target price for the company from $78.00 to $80.00 in a research report on Thursday, April 5th. Vining Sparks reissued a “buy” rating and set a $82.00 price objective on shares of Citigroup in a research report on Monday, April 16th. Deutsche Bank upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday, June 20th. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $76.00 price target on shares of Citigroup in a research note on Friday, April 13th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Citigroup has a consensus rating of “Hold” and an average price target of $80.78.

Shares of Citigroup opened at $66.92 on Friday, according to Marketbeat.com. Citigroup Inc has a 1-year low of $64.38 and a 1-year high of $80.70. The stock has a market cap of $171.89 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.96 and a beta of 1.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.30.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.07. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The firm had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter last year, the business posted $1.35 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. research analysts expect that Citigroup Inc will post 6.49 earnings per share for the current fiscal year.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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