Retirement Systems of Alabama Increases Position in Citigroup Inc. (NYSE:C)

Retirement Systems of Alabama grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 176.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,131,467 shares of the company's stock after purchasing an additional 721,992 shares during the period. Retirement Systems of Alabama owned about 0.06% of Citigroup worth $80,323,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in Citigroup during the fourth quarter worth approximately $28,000. American National Bank & Trust purchased a new position in shares of Citigroup during the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in shares of Citigroup during the 4th quarter valued at approximately $34,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Citigroup during the 4th quarter valued at approximately $39,000. Finally, Whipplewood Advisors LLC lifted its position in shares of Citigroup by 79.2% during the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after buying an additional 252 shares in 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 issued reports on C shares. Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Truist Financial decreased their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Evercore ISI decreased their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their target price on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $84.30.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Citigroup Trading Up 0.1%

Shares of NYSE C traded up $0.04 during trading on Friday, hitting $78.39. 17,313,525 shares of the company were exchanged, compared to its average volume of 14,528,016. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average price of $72.60 and a 200-day moving average price of $73.26. The firm has a market capitalization of $146.41 billion, a PE ratio of 12.38, a P/E/G ratio of 0.60 and a beta of 1.33.

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

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is presently 35.39%.

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.