Global Assets Advisory LLC Buys Shares of 4,756 Citigroup Inc. (NYSE:C)

Global Assets Advisory LLC bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,756 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. FMR LLC increased its stake in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Cowen assumed coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Piper Sandler reaffirmed an "overweight" rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Truist Financial cut their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.30.

Citigroup Price Performance

C stock opened at $82.64 on Thursday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a fifty day simple moving average of $73.68 and a two-hundred day simple moving average of $73.45. The firm has a market capitalization of $154.35 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.71%. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

Insider Transactions at Citigroup

In other 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 value of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

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.

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