Citigroup Inc. (NYSE:C) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Citigroup Inc. (NYSE:C) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,341 shares of the company’s stock after purchasing an additional 13,490 shares during the quarter. Handelsbanken Fonder AB’s holdings in Citigroup were worth $39,647,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB acquired a new stake in Citigroup in the 1st quarter valued at approximately $253,286,000. Acadian Asset Management LLC raised its stake in shares of Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares in the last quarter. Caxton Associates LP lifted its holdings in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after purchasing an additional 1,988,494 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after buying an additional 1,919,170 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 2.2 %

Shares of C stock traded up $1.33 on Friday, reaching $62.64. 10,100,488 shares of the company’s stock traded hands, compared to its average volume of 14,445,869. The business’s 50 day moving average price is $60.61 and its two-hundred day moving average price is $61.77. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS. On average, equities analysts forecast that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analyst Weigh In

C has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. The Goldman Sachs Group dropped their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Argus increased their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.