Audent Global Asset Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Audent Global Asset Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,258 shares of the company's stock, valued at approximately $1,285,000.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after purchasing an additional 815,003 shares during the period. FMR LLC boosted its stake in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after buying an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE C traded down $0.23 during midday trading on Friday, hitting $75.30. The stock had a trading volume of 12,509,663 shares, compared to its average volume of 14,579,475. The company has a market capitalization of $140.64 billion, a PE ratio of 12.66, a P/E/G ratio of 0.64 and a beta of 1.30. The stock has a 50 day simple moving average of $68.89 and a 200-day simple moving average of $72.44. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.97%. Citigroup's dividend payout ratio is presently 35.39%.

Analyst Ratings Changes

A number of analysts have recently commented on C shares. Wall Street Zen downgraded Citigroup from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Royal Bank of Canada lowered their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Truist Financial lowered their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

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.