TBH Global Asset Management LLC Acquires New Stake in Citigroup Inc. (NYSE:C)

TBH Global Asset Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,576 shares of the company’s stock, valued at approximately $289,000.

Several other large investors also recently bought and sold shares of C. Norges Bank acquired a new stake in Citigroup in the 4th quarter valued at about $867,599,000. Bank of New York Mellon Corp raised its position in shares of Citigroup by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after acquiring an additional 4,620,867 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $2,109,120,000. Los Angeles Capital Management LLC raised its position in shares of Citigroup by 873.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock worth $135,262,000 after acquiring an additional 1,919,170 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after acquiring an additional 1,836,283 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Citigroup from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday. Argus lifted their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group lifted their target price on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Oppenheimer lifted their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.25.

Citigroup Price Performance

C stock traded up $0.46 during midday trading on Friday, hitting $65.35. 4,507,028 shares of the stock were exchanged, compared to its average volume of 15,027,369. The stock’s 50-day moving average price is $62.96 and its 200-day moving average price is $59.30. The stock has a market cap of $124.65 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.73 and a beta of 1.46. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $20.07 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current 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 issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 59.38%.

Citigroup 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.