Citigroup Inc. (NYSE:C) Shares Bought by Essex Savings Bank

Essex Savings Bank lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 36.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,528 shares of the company’s stock after purchasing an additional 1,756 shares during the quarter. Essex Savings Bank’s holdings in Citigroup were worth $463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Citigroup in the fourth quarter valued at $1,935,599,000. Capital World Investors lifted its stake in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC grew its holdings in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Raymond James Financial Inc. acquired a new stake in Citigroup during the 4th quarter worth approximately $198,231,000. Finally, Franklin Resources Inc. raised its holdings in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’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 sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This trade 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. Insiders own 0.08% of the company’s stock.

Citigroup Trading Up 1.2%

C opened at $78.28 on Thursday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $146.20 billion, a PE ratio of 12.37, a P/E/G ratio of 0.60 and a beta of 1.33. The firm’s fifty day moving average price is $71.94 and its 200 day moving average price is $73.16.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating for the company. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group upped their target price on Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Truist Financial dropped their target price on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley decreased their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

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.