Mesirow Financial Investment Management Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Mesirow Financial Investment Management Inc. lifted its position in Citigroup Inc. (NYSE:C) by 12.3% in the first quarter, Holdings Channel reports. The firm owned 21,832 shares of the company’s stock after acquiring an additional 2,390 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Citigroup were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Citigroup by 13.8% in the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after buying an additional 1,970,300 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Citigroup by 109.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock valued at $88,458,000 after acquiring an additional 649,807 shares during the period. Brighton Jones LLC increased its position in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup during the 1st quarter valued at approximately $214,000. Finally, Pinnacle Financial Partners Inc lifted its position in Citigroup by 495.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock worth $1,317,000 after acquiring an additional 15,436 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $95.89 on Thursday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $96.90. The stock has a market cap of $179.10 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.81 and a beta of 1.34. The stock’s 50 day simple moving average is $83.58 and its 200 day simple moving average is $76.72. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. Citigroup’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is presently 33.09%.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

C has been the subject of several analyst reports. Cowen initiated coverage on Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating for the company. UBS Group restated a “neutral” rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Truist Financial lifted their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Finally, Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $96.54.

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.