FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in Citigroup Inc. (NYSE:C) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,776 shares of the company’s stock, valued at approximately $202,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at $27,000. Charter Oak Capital Management LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $28,000. Johnson Midwest Financial LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $29,000. Capstone Triton Financial Group LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $29,000. Finally, Cordasco Financial Network grew its stake in shares of Citigroup by 344.8% during the fourth quarter. Cordasco Financial Network now owns 516 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. 72.99% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on C shares. TheStreet raised Citigroup from a “c” rating to a “b” rating in a research note on Friday, January 15th. Piper Sandler lifted their price objective on Citigroup from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, January 11th. Royal Bank of Canada lifted their price objective on Citigroup from $66.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 19th. Daiwa Capital Markets started coverage on Citigroup in a research note on Wednesday, January 6th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.20.
Shares of Citigroup stock traded down $0.11 during trading on Monday, reaching $72.31. The stock had a trading volume of 542,532 shares, compared to its average volume of 19,885,246. The company has a market capitalization of $150.89 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.25 and a beta of 1.95. The stock has a fifty day moving average price of $71.00 and a two-hundred day moving average price of $58.46. Citigroup Inc. has a 52 week low of $38.76 and a 52 week high of $76.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50.
Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, January 14th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.74. The company had revenue of $16.50 billion for the quarter, compared to analyst estimates of $16.71 billion. Citigroup had a return on equity of 6.63% and a net margin of 13.17%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 6.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Monday, May 3rd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 30th. This represents a $2.04 annualized dividend and a yield of 2.82%. Citigroup’s payout ratio is presently 41.80%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Read More: How prevalent are 12b-1 fees?
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C).