Viking Fund Management LLC Buys 5,000 Shares of Citigroup Inc. (NYSE:C)

Viking Fund Management LLC boosted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,000 shares of the company's stock after buying an additional 5,000 shares during the quarter. Citigroup makes up approximately 1.4% of Viking Fund Management LLC's holdings, making the stock its 22nd largest holding. Viking Fund Management LLC's holdings in Citigroup were worth $9,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Orion Capital Management LLC bought a new position in Citigroup during the fourth quarter worth about $28,000. American National Bank & Trust bought a new position in Citigroup during the first quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the 4th quarter worth about $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter valued at about $35,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Royal Bank of Canada lowered their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the 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 completion of the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

NYSE:C traded down $0.09 during mid-day trading on Wednesday, reaching $76.44. 10,118,813 shares of the company's stock were exchanged, compared to its average volume of 14,538,856. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The business's fifty day simple moving average is $69.04 and its two-hundred day simple moving average is $72.58. The firm has a market capitalization of $142.77 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.93%. Citigroup's payout ratio is 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.