Janney Capital Management LLC Buys 67,576 Shares of Citigroup Inc. (NYSE:C)

Janney Capital Management LLC raised its stake in Citigroup Inc. (NYSE:C) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 357,795 shares of the company’s stock after purchasing an additional 67,576 shares during the quarter. Citigroup comprises approximately 1.7% of Janney Capital Management LLC’s holdings, making the stock its 7th biggest holding. Janney Capital Management LLC’s holdings in Citigroup were worth $25,400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in shares of Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after purchasing an additional 119 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after acquiring an additional 120 shares during the period. Blake Schutter Theil Wealth Advisors LLC boosted its position in Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 1.2%

NYSE:C opened at $78.28 on Thursday. The company has a market capitalization of $146.20 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a 50-day simple moving average of $71.94 and a 200 day simple moving average of $73.16. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 in the company, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on C. Royal Bank Of Canada cut their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Bank of America cut their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. TD Cowen began coverage on Citigroup in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective on the stock. Truist Financial cut their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised their price objective on Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.