Mesirow Financial Investment Management Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Mesirow Financial Investment Management Inc. raised its stake in Citigroup Inc. (NYSE:C) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,832 shares of the company’s stock after buying an additional 2,390 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Citigroup were worth $1,550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 2.2% during 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 purchasing an additional 815,003 shares during the last quarter. FMR LLC boosted its stake in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Capital World Investors boosted its stake in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the period. Northern Trust Corp increased its position in shares of Citigroup by 13.9% during the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock valued at $1,424,169,000 after acquiring an additional 2,467,958 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after acquiring an additional 1,970,300 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 1.5%

Shares of NYSE:C opened at $95.89 on Thursday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The company’s 50 day moving average is $83.58 and its two-hundred day moving average is $76.72. The company has a market cap of $179.10 billion, a PE ratio of 14.16, a P/E/G ratio of 0.81 and a beta of 1.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Citigroup’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.50%. Citigroup’s payout ratio is presently 33.09%.

Analyst Ratings Changes

A number of research firms recently weighed in on C. Wells Fargo & Company increased their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Truist Financial lifted their price objective on Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Finally, Cowen initiated coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

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.