Acadian Asset Management LLC Has $158.52 Million Stake in Citigroup Inc. (NYSE:C)

Acadian Asset Management LLC raised its stake in Citigroup Inc. (NYSE:C) by 527.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,498,277 shares of the company’s stock after acquiring an additional 2,100,135 shares during the quarter. Acadian Asset Management LLC’s holdings in Citigroup were worth $158,521,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter worth $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at about $29,000. Beacon Capital Management LLC grew its holdings 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 during the last quarter. Beaird Harris Wealth Management LLC increased its stake 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 buying an additional 569 shares during the period. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the 2nd quarter valued at approximately $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on C shares. Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley boosted their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Royal Bank of Canada upped their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Finally, Evercore ISI increased their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Trading Down 2.5 %

Shares of Citigroup stock opened at $59.09 on Friday. The stock has a market capitalization of $112.71 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a 50 day moving average price of $62.44 and a two-hundred day moving average price of $61.25. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter last year, the firm posted $1.37 EPS. Citigroup’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.79%. Citigroup’s payout ratio is presently 62.75%.

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.