Pacific Point Advisors LLC Invests $245,000 in Citigroup Inc. (NYSE:C)

Pacific Point Advisors LLC bought a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,475 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $1,935,599,000. Capital World Investors grew its holdings in shares of Citigroup by 455.2% during 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 during the last quarter. FMR LLC increased its position in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Swedbank AB raised its holdings in Citigroup by 90.2% in the 4th 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 last quarter. Finally, Raymond James Financial Inc. bought a new position in Citigroup in the 4th quarter valued at approximately $198,231,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $73.33 on Friday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The firm has a market capitalization of $136.96 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a fifty day simple moving average of $68.62 and a two-hundred day simple moving average of $72.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

Insider Activity

In related 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 transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Evercore ISI lowered their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Royal Bank of Canada dropped their price target 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. The Goldman Sachs Group cut their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.97.

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.