Andra AP fonden Makes New Investment in Citigroup Inc. (NYSE:C)

Andra AP fonden bought a new position in shares of Citigroup Inc. (NYSE:C) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 194,200 shares of the company’s stock, valued at approximately $12,324,000.

Other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in Citigroup in the 2nd quarter worth $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $29,000. Beacon Capital Management LLC increased its stake in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in shares of Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup in the 2nd quarter valued at about $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Citigroup stock opened at $57.93 on Wednesday. The firm has a 50 day simple moving average of $62.22 and a 200-day simple moving average of $61.33. The stock has a market cap of $110.50 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the prior year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 5.82 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.87%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Evercore ISI boosted their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler increased their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, 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 note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.