Gamco Investors INC. ET AL Purchases 2,175 Shares of Citigroup Inc. (NYSE:C)

Gamco Investors INC. ET AL boosted its position in shares of Citigroup Inc. (NYSE:C) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,430 shares of the company’s stock after acquiring an additional 2,175 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Citigroup were worth $3,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $29,000. Beaird Harris Wealth Management LLC raised its position in shares of Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares during the period. Rakuten Securities Inc. bought a new position in shares of Citigroup in the fourth quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Citigroup in the fourth quarter valued at about $39,000. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Citigroup stock traded up $0.81 during trading hours on Friday, reaching $65.18. 9,661,252 shares of the stock were exchanged, compared to its average volume of 13,410,551. The company has a market cap of $124.33 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a 50 day moving average of $63.06 and a two-hundred day moving average of $59.77.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. Equities analysts expect that Citigroup Inc. will post 5.84 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 59.38%.

Analysts Set New Price Targets

C has been the topic of several research analyst reports. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price target on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Piper Sandler raised their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Argus raised their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Evercore ISI raised their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.25.

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.