Arizona State Retirement System Has $39.40 Million Holdings in Citigroup Inc. (NYSE:C)

Arizona State Retirement System increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,034 shares of the company's stock after purchasing an additional 3,125 shares during the quarter. Arizona State Retirement System's holdings in Citigroup were worth $39,402,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in C. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after buying an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 2.2% during 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 acquiring an additional 815,003 shares during the last quarter. FMR LLC grew its holdings in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. grew its holdings in Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors grew its holdings in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on C shares. UBS Group reaffirmed a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research note on Tuesday. Royal Bank Of Canada cut their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. TD Cowen started coverage on Citigroup in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 target price for the company. Piper Sandler reissued an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.97.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 sale, the director owned 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of NYSE C traded up $3.05 during mid-day trading on Tuesday, hitting $90.55. The company had a trading volume of 39,252,658 shares, compared to its average volume of 14,644,583. The firm's 50 day simple moving average is $78.74 and its two-hundred day simple moving average is $74.92. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $169.12 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.67 and a beta of 1.34. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $91.79.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.65%. Citigroup's payout ratio is currently 35.39%.

Citigroup Company 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.