Integrated Advisors Network LLC Acquires Shares of 48,560 Citigroup Inc. (NYSE:C)

Integrated Advisors Network LLC bought a new position in shares of Citigroup Inc. (NYSE:C) during the third quarter, HoldingsChannel reports. The institutional investor bought 48,560 shares of the company’s stock, valued at approximately $3,040,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Swedbank AB acquired a new stake in shares of Citigroup during the first quarter worth approximately $253,286,000. Acadian Asset Management LLC raised its holdings in Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares in the last quarter. Caxton Associates LP boosted its stake in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after acquiring an additional 1,988,494 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Citigroup by 1,749.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock worth $82,985,000 after acquiring an additional 1,243,249 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Argus upped their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, BMO Capital Markets increased 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $71.06.

Citigroup Price Performance

Shares of NYSE:C opened at $64.69 on Wednesday. The firm’s 50 day moving average is $61.79 and its two-hundred day moving average is $62.03. The firm has a market capitalization of $123.39 billion, a P/E ratio of 18.12, a PEG ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52 week low of $38.41 and a 52 week high of $67.81.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.46%. Citigroup’s dividend payout ratio is presently 62.75%.

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.