Eagle Global Advisors LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 453.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,150 shares of the company's stock after purchasing an additional 14,050 shares during the period. Eagle Global Advisors LLC's holdings in Citigroup were worth $1,217,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. 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. Capital World Investors boosted its stake 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 valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Citigroup by 13.9% in the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after purchasing an additional 2,467,958 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. UBS Group restated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Piper Sandler raised their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Oppenheimer lifted their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Bank of America lifted their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $96.54.
Get Our Latest Research Report on C
Citigroup Stock Performance
Shares of C stock traded down $1.80 during midday trading on Friday, hitting $93.66. The company had a trading volume of 11,282,141 shares, compared to its average volume of 15,826,666. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The stock has a market cap of $172.42 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.81 and a beta of 1.38. The company's 50 day simple moving average is $87.52 and its 200 day simple moving average is $77.76.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. Citigroup's payout ratio is 35.45%.
Citigroup Company Profile
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Free Report)
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.
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