Park Avenue Securities LLC Acquires 8,920 Shares of Citigroup Inc. (NYSE:C)

Park Avenue Securities LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 13.5% during the first quarter, HoldingsChannel reports. The firm owned 74,803 shares of the company’s stock after purchasing an additional 8,920 shares during the quarter. Park Avenue Securities LLC’s holdings in Citigroup were worth $5,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in C. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after acquiring an additional 815,003 shares during the last quarter. FMR LLC increased its holdings in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. increased its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors increased its holdings in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 2.2%

Shares of NYSE C opened at $78.32 on Monday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. The business has a 50-day moving average of $69.43 and a 200-day moving average of $72.78.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on C. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Bank of America reduced their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley reduced their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.97.

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.