Citigroup Inc. (NYSE:C) Stock Holdings Increased by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC lifted its stake in Citigroup Inc. (NYSE:C) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,103 shares of the company’s stock after purchasing an additional 4,274 shares during the quarter. Citigroup accounts for 3.0% of Eastover Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. Eastover Investment Advisors LLC’s holdings in Citigroup were worth $6,454,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Aprio Wealth Management LLC bought a new position in Citigroup during the third quarter valued at approximately $205,000. Fulton Bank N.A. raised its position in Citigroup by 1.8% during the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock valued at $892,000 after acquiring an additional 258 shares in the last quarter. Herbst Group LLC raised its position in Citigroup by 16.4% during the third quarter. Herbst Group LLC now owns 18,856 shares of the company’s stock valued at $1,180,000 after acquiring an additional 2,655 shares in the last quarter. GAMMA Investing LLC raised its position in Citigroup by 15.3% during the third quarter. GAMMA Investing LLC now owns 27,073 shares of the company’s stock valued at $1,695,000 after acquiring an additional 3,601 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in Citigroup by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 633,341 shares of the company’s stock valued at $39,647,000 after acquiring an additional 13,490 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.1 %

Shares of NYSE:C opened at $62.60 on Tuesday. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company’s fifty day moving average is $60.61 and its 200-day moving average is $61.80. The company has a market capitalization of $119.41 billion, a PE ratio of 17.54, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI raised their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

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.