Hedeker Wealth LLC Raises Position in Citigroup Inc. (NYSE:C)

Hedeker Wealth LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,712 shares of the company’s stock after acquiring an additional 988 shares during the quarter. Citigroup makes up 1.5% of Hedeker Wealth LLC’s portfolio, making the stock its 24th largest holding. Hedeker Wealth LLC’s holdings in Citigroup were worth $5,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Swedbank AB purchased a new position in shares of Citigroup during the 1st quarter valued at $253,286,000. Acadian Asset Management LLC lifted its stake in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP lifted its stake in shares of Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Citigroup by 1,749.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock valued at $82,985,000 after buying an additional 1,243,249 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.9 %

NYSE:C traded up $0.55 during mid-day trading on Tuesday, hitting $64.71. 3,026,924 shares of the stock traded hands, compared to its average volume of 14,318,636. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $123.43 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.74 and a beta of 1.44. The firm’s 50 day moving average is $61.72 and its two-hundred day moving average is $61.99. Citigroup Inc. has a 52 week low of $38.41 and a 52 week high of $67.81.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.46%. Citigroup’s payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. 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. Argus boosted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Oppenheimer reduced their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $71.06.

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.