Artemis Investment Management LLP Boosts Position in Citigroup Inc. (NYSE:C)

Artemis Investment Management LLP grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 2,381.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 835,677 shares of the company's stock after buying an additional 801,999 shares during the quarter. Artemis Investment Management LLP's holdings in Citigroup were worth $59,325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at $28,000. American National Bank & Trust bought a new position in Citigroup during the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. purchased a new stake in Citigroup in the 4th quarter worth about $34,000. Runnymede Capital Advisors Inc. bought a new stake in Citigroup in the fourth quarter worth about $39,000. Finally, Whipplewood Advisors LLC boosted its position in shares of Citigroup by 79.2% during the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after buying an additional 252 shares during the period. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 0.9%

Shares of Citigroup stock traded up $0.76 on Monday, reaching $85.14. The stock had a trading volume of 12,949,719 shares, compared to its average volume of 14,582,074. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $159.02 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.66 and a beta of 1.33. The company has a 50 day moving average price of $74.53 and a 200 day moving average price of $73.64. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $85.43.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on C. Morgan Stanley increased their price target on Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Truist Financial decreased their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Evercore ISI lowered their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. TD Cowen started coverage on shares of Citigroup in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Finally, Piper Sandler reissued an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $84.03.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.08% of the company's stock.

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.