First Trust Direct Indexing L.P. Buys 2,922 Shares of Citigroup Inc. (NYSE:C)

First Trust Direct Indexing L.P. raised its stake in Citigroup Inc. (NYSE:C) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,263 shares of the company’s stock after buying an additional 2,922 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Citigroup were worth $2,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter worth $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup during the fourth quarter worth $29,000. Beaird Harris Wealth Management LLC increased its holdings in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Citigroup during the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Citigroup during the fourth quarter worth $39,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.3 %

C stock opened at $64.46 on Friday. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $65.22. The company’s 50-day simple moving average is $62.25 and its 200 day simple moving average is $58.27. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $122.95 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. Citigroup’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current year.

Analysts Set New Price Targets

C has been the topic of several research reports. Piper Sandler upped their price objective on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Royal Bank of Canada upped their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.16.

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.