Concurrent Investment Advisors LLC Has $3.86 Million Stake in Citigroup Inc. $C

Concurrent Investment Advisors LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 14.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 45,353 shares of the company’s stock after purchasing an additional 5,696 shares during the period. Concurrent Investment Advisors LLC’s holdings in Citigroup were worth $3,860,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 9,334,038 shares during the last quarter. Nuveen LLC acquired a new position in Citigroup during the first quarter worth $578,100,000. Amundi increased its holdings in Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after buying an additional 6,026,268 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after buying an additional 2,539,769 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in Citigroup by 2,230.8% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company’s stock worth $186,726,000 after purchasing an additional 2,517,459 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Citigroup Trading Up 2.4%

Shares of Citigroup stock opened at $96.18 on Tuesday. The firm has a 50-day moving average of $97.09 and a 200-day moving average of $84.05. The stock has a market cap of $177.05 billion, a PE ratio of 14.21, a PEG ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. 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 (NYSE:C) last announced 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 company had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup’s payout ratio is presently 35.45%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Oppenheimer reduced their price objective on shares of Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. Truist Financial lifted their price objective on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $99.68.

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.