State of Alaska Department of Revenue Boosts Stake in Citigroup Inc. (NYSE:C)

State of Alaska Department of Revenue lifted its stake in Citigroup Inc. (NYSE:C) by 2.0% in the 1st quarter, HoldingsChannel reports. The firm owned 220,014 shares of the company’s stock after acquiring an additional 4,335 shares during the period. State of Alaska Department of Revenue’s holdings in Citigroup were worth $15,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWA Asset Management Group LLC boosted its holdings in Citigroup by 45.7% in the 1st quarter. CWA Asset Management Group LLC now owns 69,395 shares of the company’s stock worth $4,926,000 after buying an additional 21,751 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Citigroup by 102.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 22,732 shares of the company’s stock worth $1,608,000 after buying an additional 11,492 shares during the period. Essex Savings Bank boosted its holdings in Citigroup by 36.8% in the 1st quarter. Essex Savings Bank now owns 6,528 shares of the company’s stock worth $463,000 after buying an additional 1,756 shares during the period. Clarius Group LLC boosted its holdings in Citigroup by 101.8% in the 1st quarter. Clarius Group LLC now owns 20,164 shares of the company’s stock worth $1,431,000 after buying an additional 10,171 shares during the period. Finally, GSB Wealth Management LLC boosted its holdings in Citigroup by 39.5% in the 1st quarter. GSB Wealth Management LLC now owns 4,080 shares of the company’s stock worth $290,000 after buying an additional 1,155 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.9%

Shares of NYSE C opened at $77.37 on Wednesday. The firm’s 50-day moving average price is $71.66 and its 200-day moving average price is $73.13. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $144.51 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.60 and a beta of 1.33. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C) last announced its earnings results 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 firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio is 35.39%.

Insider Activity

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

Analyst Ratings Changes

C has been the subject of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Truist Financial decreased their price target on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Bank of America decreased their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $84.30.

Citigroup 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.