Raymond James & Associates Buys 282,825 Shares of Citigroup Inc. (NYSE:C)

Raymond James & Associates raised its position in Citigroup Inc. (NYSE:C - Free Report) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,987,362 shares of the company's stock after acquiring an additional 282,825 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Citigroup worth $124,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Citigroup during the 2nd quarter valued at $25,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company's stock worth $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new stake in Citigroup in the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC boosted its position in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company's stock valued at $33,000 after acquiring an additional 48,484 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE C traded down $1.01 during midday trading on Monday, hitting $61.84. 12,170,447 shares of the company's stock traded hands, compared to its average volume of 14,440,184. The firm has a fifty day moving average of $61.43 and a 200 day moving average of $61.92. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. 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 has a market capitalization of $117.96 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44.

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

Analyst Ratings Changes

C has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a "market perform" rating in a report on Thursday, July 11th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Monday, July 15th. Oppenheimer lowered their target price on shares of Citigroup from $92.00 to $91.00 and set an "outperform" rating for the company in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on Citigroup from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven 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 a consensus price target of $71.06.

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.