Citigroup Inc. (NYSE:C) Stake Increased by Breakwater Capital Group

Breakwater Capital Group increased its holdings in shares of Citigroup Inc. (NYSE:C) by 27.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,299 shares of the company’s stock after buying an additional 3,911 shares during the quarter. Breakwater Capital Group’s holdings in Citigroup were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Citigroup during the 4th quarter valued at about $1,935,599,000. Capital World Investors grew its position in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC increased its stake in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the period. Raymond James Financial Inc. purchased a new stake in Citigroup in the 4th quarter worth approximately $198,231,000. Finally, Franklin Resources Inc. boosted its stake in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on C shares. Evercore ISI dropped their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Oppenheimer restated an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.97.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Down 0.1%

Shares of Citigroup stock opened at $76.44 on Thursday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a market capitalization of $142.77 billion, a P/E ratio of 12.85, a PEG ratio of 0.64 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average price of $69.16 and a two-hundred day moving average price of $72.60.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

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.