Citigroup Inc. (NYSE:C) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,014 shares of the company's stock after purchasing an additional 4,335 shares during the quarter. State of Alaska Department of Revenue's holdings in Citigroup were worth $15,618,000 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 C. Norges Bank purchased a new stake in shares of Citigroup during the fourth quarter valued at $1,935,599,000. Capital World Investors lifted its position in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. FMR LLC grew its stake in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Citigroup in the fourth quarter valued at about $198,231,000. Finally, Franklin Resources Inc. increased its holdings 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 valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

C traded up $0.92 on Thursday, reaching $78.28. The stock had a trading volume of 14,863,163 shares, compared to its average volume of 14,496,745. The business's 50-day moving average price is $72.27 and its two-hundred day moving average price is $73.21. The company has a market cap of $146.20 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business'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 owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was 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 available at this link. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Finally, Bank of America decreased their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Six 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

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.