Susquehanna Fundamental Investments LLC Acquires 37,000 Shares of Citigroup Inc. (NYSE:C)

Susquehanna Fundamental Investments LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 7.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 552,341 shares of the company’s stock after purchasing an additional 37,000 shares during the period. Citigroup accounts for about 0.8% of Susquehanna Fundamental Investments LLC’s holdings, making the stock its 15th largest position. Susquehanna Fundamental Investments LLC’s holdings in Citigroup were worth $35,052,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. POM Investment Strategies LLC acquired a new stake in Citigroup in the 2nd quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC grew 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 in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Citigroup in the second quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC grew its position in shares of Citigroup by 1,139.7% in the second quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after purchasing an additional 48,484 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.3 %

NYSE:C opened at $61.87 on Friday. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The firm has a market capitalization of $118.04 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.69 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. The business has a 50 day simple moving average of $60.85 and a 200 day simple moving average of $61.62.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.62%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on C. BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI lifted their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Finally, Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $68.25.

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.