AIA Group Ltd Takes $7.13 Million Position in Citigroup Inc. (NYSE:C)

AIA Group Ltd acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 112,721 shares of the company’s stock, valued at approximately $7,128,000.

A number of other hedge funds have also recently modified their holdings of the business. Creative Planning lifted its stake in shares of Citigroup by 3.6% during the 3rd quarter. Creative Planning now owns 312,013 shares of the company’s stock valued at $12,833,000 after buying an additional 10,814 shares in the last quarter. Comerica Bank lifted its stake in shares of Citigroup by 122.1% during the 3rd quarter. Comerica Bank now owns 574,406 shares of the company’s stock valued at $23,625,000 after buying an additional 315,726 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Citigroup by 96.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 13,347 shares of the company’s stock worth $549,000 after purchasing an additional 6,568 shares in the last quarter. Wellington Management Group LLP lifted its stake in Citigroup by 306.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,180,767 shares of the company’s stock worth $48,565,000 after purchasing an additional 890,464 shares in the last quarter. Finally, Dimension Capital Management LLC purchased a new stake in Citigroup in the 3rd quarter worth $214,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 1.8 %

NYSE:C traded down $1.17 during mid-day trading on Friday, hitting $64.54. 30,117,249 shares of the stock traded hands, compared to its average volume of 15,025,734. The stock has a market capitalization of $123.11 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.95 and a beta of 1.46. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $66.99. The firm’s 50 day moving average is $62.68 and its two-hundred day moving average is $58.89. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler boosted their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group boosted their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. Finally, Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.66.

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.