GAMMA Investing LLC Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

GAMMA Investing LLC raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,236 shares of the company's stock after purchasing an additional 3,855 shares during the period. GAMMA Investing LLC's holdings in Citigroup were worth $2,430,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. American Century Companies Inc. grew its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock valued at $24,844,000 after acquiring an additional 11,674 shares in the last quarter. Invesco Ltd. grew its stake in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after acquiring an additional 1,970,300 shares in the last quarter. Candriam S.C.A. grew its stake in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock valued at $14,139,000 after acquiring an additional 22,657 shares in the last quarter. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Finally, Unified Investment Management purchased a new position in Citigroup during the fourth quarter valued at approximately $658,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Royal Bank Of Canada dropped their target price 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. Piper Sandler reiterated an "overweight" rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $84.03.

Citigroup Price Performance

Shares of Citigroup stock opened at $84.41 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.79. The stock has a market capitalization of $157.66 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33. The company has a fifty day moving average of $74.53 and a 200-day moving average of $73.63. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $21.34 billion. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. Citigroup's dividend payout ratio (DPR) is 35.39%.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, 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.

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