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

Pallas Capital Advisors LLC grew its stake in Citigroup Inc. (NYSE:C) by 62.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,964 shares of the company’s stock after acquiring an additional 11,853 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Citigroup were worth $2,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Core Alternative Capital increased its position in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup during the 4th quarter worth about $34,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $35,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C opened at $78.17 on Tuesday. The stock has a 50-day simple moving average of $69.55 and a 200-day simple moving average of $72.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $146.00 billion, a PE ratio of 13.14, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

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 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 return on equity of 6.62% and a net margin of 7.43%. On average, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on C shares. Cowen started coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. Bank of America cut their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. dropped their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada dropped their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $83.97.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

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.