Citigroup Inc. (NYSE:C) Shares Acquired by Fortis Advisors LLC

Fortis Advisors LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,048 shares of the company’s stock after acquiring an additional 548 shares during the quarter. Fortis Advisors LLC’s holdings in Citigroup were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Citigroup in the 4th quarter valued at $1,935,599,000. Capital World Investors increased its holdings in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. FMR LLC raised its position in shares of Citigroup by 29.7% in the fourth 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 period. Raymond James Financial Inc. purchased a new stake in shares of Citigroup during the 4th quarter worth about $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 worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 2.5%

Shares of NYSE C opened at $76.30 on Friday. The stock has a market cap of $142.51 billion, a PE ratio of 12.82, a P/E/G ratio of 0.64 and a beta of 1.33. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a 50-day moving average of $71.01 and a 200 day moving average of $73.03.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 firm had revenue of $21.60 billion during 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%. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

C has been the subject of several recent analyst reports. Truist Financial cut their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Cowen started coverage on Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Morgan Stanley reduced their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup 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.