Transcend Capital Advisors LLC Boosts Stock Position in Citigroup Inc. (NYSE:C)

Transcend Capital Advisors LLC increased its stake in Citigroup Inc. (NYSE:C) by 34.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,230 shares of the company’s stock after buying an additional 7,531 shares during the period. Transcend Capital Advisors LLC’s holdings in Citigroup were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Citigroup during the 3rd quarter valued at $209,000. Simplicity Solutions LLC boosted its stake in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after purchasing an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after purchasing an additional 449,310 shares during the last quarter. GFS Advisors LLC purchased a new stake in Citigroup during the 4th quarter valued at $2,003,000. Finally, Sound Income Strategies LLC boosted its stake in Citigroup by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock valued at $13,279,000 after purchasing an additional 21,440 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.87 during trading on Friday, reaching $62.66. 16,364,096 shares of the stock traded hands, compared to its average volume of 14,990,358. The company has a market capitalization of $120.01 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 0.94 and a beta of 1.52. The business has a fifty day simple moving average of $59.09 and a two-hundred day simple moving average of $51.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The company had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on C shares. Jefferies Financial Group increased their price target on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Evercore ISI increased their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Piper Sandler increased their price target on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Oppenheimer lowered their price target on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.91.

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.