Blueshift Asset Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Blueshift Asset Management LLC bought a new position in Citigroup Inc. (NYSE:C) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,945 shares of the company’s stock, valued at approximately $777,000.

Other hedge funds have also modified their holdings of the company. Private Advisory Group LLC raised its stake in Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after purchasing an additional 11,978 shares during the period. Invesco Ltd. boosted its position in shares of Citigroup by 13.8% in the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares during the period. Brighton Jones LLC grew its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock valued at $88,458,000 after buying an additional 649,807 shares during the period. Finally, Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup in the 1st quarter worth about $214,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

Citigroup Trading Down 2.3%

Shares of C stock opened at $93.62 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $96.90. The company has a market cap of $174.86 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The business’s 50 day moving average is $83.98 and its two-hundred day moving average is $76.86.

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

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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 annualized dividend and a dividend yield of 2.6%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is presently 33.09%.

Wall Street Analyst Weigh In

C has been the topic of several research analyst reports. Cowen initiated coverage on Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Truist Financial increased their target price on shares of Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, TD Cowen upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.54.

Citigroup Company 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.