Swedbank AB Increases Stock Holdings in Citigroup Inc. (NYSE:C)

Swedbank AB grew its position in Citigroup Inc. (NYSE:C) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,378,833 shares of the company’s stock after buying an additional 54,782 shares during the quarter. Swedbank AB owned 0.23% of Citigroup worth $274,115,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Lloyd Advisory Services LLC. boosted its stake in shares of Citigroup by 355.9% during the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after acquiring an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the last quarter. BDF Gestion acquired a new stake in shares of Citigroup during the second quarter valued at $3,861,000. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Citigroup by 13.9% during the first quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock valued at $7,300,000 after acquiring an additional 14,100 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C stock traded down $2.97 during trading on Tuesday, reaching $63.04. 24,972,332 shares of the company’s stock were exchanged, compared to its average volume of 14,378,513. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The company’s fifty day moving average price is $60.85 and its 200-day moving average price is $61.90. The firm has a market cap of $120.25 billion, a PE ratio of 17.85, a P/E/G ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the business earned $1.52 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. Citigroup’s payout ratio is currently 62.75%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley raised their price target on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note 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. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.