Second Line Capital LLC Acquires Shares of 2,849 Citigroup Inc. (NYSE:C)

Second Line Capital LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,849 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors have also modified their holdings of C. Norges Bank acquired a new stake in shares of Citigroup in the 4th quarter valued at about $1,935,599,000. Capital World Investors raised 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 acquiring an additional 25,705,141 shares during the period. FMR LLC raised 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 acquiring an additional 7,863,718 shares during the period. Swedbank AB raised its stake in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after acquiring an additional 3,947,912 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Citigroup during the fourth quarter worth about $198,231,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Down 0.4%

Citigroup stock opened at $75.66 on Friday. The firm has a 50 day simple moving average of $68.12 and a 200-day simple moving average of $71.87. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $141.31 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is 35.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. TD Cowen assumed coverage on shares of Citigroup in a research note on Thursday. They set a “hold” rating and a $83.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Oppenheimer increased their price objective on shares of Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.