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

GAMMA Investing LLC grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 7,899.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,430,414 shares of the company's stock after buying an additional 2,400,033 shares during the quarter. GAMMA Investing LLC owned 0.13% of Citigroup worth $172,535,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in Citigroup by 3.4% in 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 during the period. Invesco Ltd. grew its stake in shares of Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Candriam S.C.A. increased its holdings in shares of Citigroup by 12.7% during the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock valued at $14,139,000 after purchasing an additional 22,657 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Finally, Unified Investment Management acquired a new position in shares of Citigroup in the 4th quarter valued at $658,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated 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 directly owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

Shares of NYSE:C traded up $0.74 during midday trading on Tuesday, hitting $76.54. The company's stock had a trading volume of 9,794,940 shares, compared to its average volume of 14,527,454. The company has a market cap of $142.96 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The business's 50 day simple moving average is $68.94 and its 200 day simple moving average is $72.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given 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%.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen initiated coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Truist Financial lowered their target price 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. 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 research note on Wednesday, April 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Sunday. Finally, The Goldman Sachs Group lowered their price target on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

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.