Rexford Capital Inc. Invests $481,000 in Citigroup Inc. $C

Rexford Capital Inc. purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,646 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Citigroup during the 2nd quarter worth approximately $2,455,929,000. Amundi increased its position in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company’s stock valued at $973,523,000 after acquiring an additional 6,026,268 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 2,539,769 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in Citigroup by 2,230.8% in 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 last quarter. Finally, AQR Capital Management LLC grew its stake in Citigroup by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 6,621,300 shares of the company’s stock valued at $456,737,000 after purchasing an additional 2,286,653 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $111.82 on Friday. The firm’s 50 day moving average is $101.21 and its 200 day moving average is $94.39. The stock has a market capitalization of $200.07 billion, a P/E ratio of 15.70, a PEG ratio of 0.55 and a beta of 1.21. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $113.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. The business had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. Citigroup’s dividend payout ratio is 33.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank lowered shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. UBS Group reissued a “neutral” rating and set a $108.00 target price on shares of Citigroup in a research report on Monday, November 24th. Truist Financial raised their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $112.47.

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.