Rakuten Securities Inc. Takes $35,000 Position in Citigroup Inc. (NYSE:C)

Rakuten Securities Inc. acquired a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 679 shares of the company’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Snider Financial Group boosted its stake in shares of Citigroup by 96,645.9% in the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after purchasing an additional 84,407,589 shares during the period. Geode Capital Management LLC boosted its stake in shares of Citigroup by 1.5% in the first quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock valued at $1,646,775,000 after purchasing an additional 519,202 shares during the period. Morgan Stanley boosted its stake in shares of Citigroup by 2.6% in the fourth quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares during the period. Northern Trust Corp lifted its stake in Citigroup by 1.2% in the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock worth $824,710,000 after acquiring an additional 232,652 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Citigroup by 3.0% in the third quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after acquiring an additional 486,952 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $58.32 on Friday. The firm’s fifty day simple moving average is $58.19 and its 200-day simple moving average is $51.03. The stock has a market capitalization of $111.70 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.88 and a beta of 1.52. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. As a group, equities analysts forecast that Citigroup Inc. will post 5.91 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.64%. Citigroup’s payout ratio is 62.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a research note on Wednesday, January 10th. Evercore ISI lifted their price target on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, January 3rd. Finally, Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $62.91.

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.