Steph & Co. Purchases 1,606 Shares of Citigroup Inc. (NYSE:C)

Steph & Co. raised its position in Citigroup Inc. (NYSE:C) by 16.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,293 shares of the company’s stock after buying an additional 1,606 shares during the quarter. Steph & Co.’s holdings in Citigroup were worth $714,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after purchasing an additional 1,300,520 shares in the last quarter. Norges Bank acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $867,599,000. Pzena Investment Management LLC boosted its stake in shares of Citigroup by 1.3% in the 4th quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock valued at $866,797,000 after purchasing an additional 223,206 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in shares of Citigroup by 22.4% in the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after purchasing an additional 2,948,512 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Citigroup in a research report on Thursday. Royal Bank of Canada lifted their target price 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. Wells Fargo & Company reiterated an “overweight” rating and set a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. Piper Sandler lifted their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday. One research 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, Citigroup has an average rating of “Moderate Buy” and an average target price of $65.03.

Citigroup Stock Performance

NYSE C traded up $1.09 during trading on Monday, hitting $61.08. 3,752,288 shares of the company’s stock traded hands, compared to its average volume of 15,046,949. The stock has a market capitalization of $116.51 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.92 and a beta of 1.48. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $64.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50 day moving average of $61.70 and a 200-day moving average of $57.52.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.9 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 62.72%.

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.