Flputnam Investment Management Co. Raises Stake in Citigroup Inc. (NYSE:C)

Flputnam Investment Management Co. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,370 shares of the company’s stock after acquiring an additional 431 shares during the period. Flputnam Investment Management Co.’s holdings in Citigroup were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meridian Wealth Management LLC increased its stake in Citigroup by 130.4% during the third quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after acquiring an additional 99,371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Citigroup during the 3rd quarter worth about $209,000. Simplicity Solutions LLC raised its holdings in Citigroup by 17.6% in the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Citigroup by 56.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after buying an additional 449,310 shares during the last quarter. Finally, GFS Advisors LLC purchased a new position in Citigroup during the fourth quarter worth about $2,003,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $58.32 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $58.19 and a 200-day simple moving average of $51.03. The stock has a market cap of $111.70 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same period in the previous year, the business earned $1.86 EPS. Citigroup’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 5.91 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Analyst Ratings Changes

Several equities analysts have recently commented on C shares. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Piper Sandler lifted their target price on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, January 3rd. One investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.91.

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.