Berkshire Asset Management LLC PA Purchases 1,164 Shares of Citigroup Inc. $C

Berkshire Asset Management LLC PA increased its position in shares of Citigroup Inc. (NYSE:C) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,571 shares of the company’s stock after purchasing an additional 1,164 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Citigroup were worth $6,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of C. Goldman Sachs Group Inc. raised its stake in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Nuveen LLC acquired a new position in Citigroup during the first quarter worth about $578,100,000. Northern Trust Corp raised its stake in Citigroup by 13.9% during the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock worth $1,424,169,000 after acquiring an additional 2,467,958 shares in the last quarter. GAMMA Investing LLC raised its stake in Citigroup by 7,899.8% during the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company’s stock worth $172,535,000 after acquiring an additional 2,400,033 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Citigroup by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,497,812 shares of the company’s stock worth $879,721,000 after acquiring an additional 1,794,597 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on C. UBS Group reissued a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Piper Sandler upped their price objective on Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, TD Cowen upped their price objective on Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $96.54.

Insider Activity

In other Citigroup 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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $94.20 on Tuesday. The company has a market capitalization of $173.41 billion, a PE ratio of 13.91, a P/E/G ratio of 0.81 and a beta of 1.38. The company has a 50 day simple moving average of $88.15 and a two-hundred day simple moving average of $77.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90.

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

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

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.