Avanza Fonder AB Has $10.24 Million Holdings in Citigroup Inc. (NYSE:C)

Avanza Fonder AB raised its position in Citigroup Inc. (NYSE:C - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 142,721 shares of the company's stock after buying an additional 10,001 shares during the period. Avanza Fonder AB's holdings in Citigroup were worth $10,242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. FMR LLC boosted its position in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial dropped their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Bank of America dropped their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

Citigroup Stock Down 2.5%

Shares of C traded down $1.93 during midday trading on Friday, hitting $76.30. The stock had a trading volume of 11,986,532 shares, compared to its average volume of 14,530,521. The company has a 50 day simple moving average of $71.01 and a two-hundred day simple moving average of $73.01. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a market cap of $142.51 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

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, beating the consensus estimate of $1.84 by $0.12. The firm 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, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

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.