Norden Group LLC Increases Stake in Citigroup Inc. (NYSE:C)

Norden Group LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,748 shares of the company’s stock after buying an additional 974 shares during the quarter. Norden Group LLC’s holdings in Citigroup were worth $656,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp increased its holdings in shares of Citigroup by 17.5% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 17,099 shares of the company’s stock valued at $703,000 after purchasing an additional 2,546 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Citigroup by 8.9% in the 3rd quarter. Accurate Wealth Management LLC now owns 6,105 shares of the company’s stock valued at $252,000 after purchasing an additional 499 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citigroup by 13.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,034,678 shares of the company’s stock valued at $83,686,000 after purchasing an additional 245,438 shares in the last quarter. Xponance Inc. increased its holdings in shares of Citigroup by 3.5% in the 3rd quarter. Xponance Inc. now owns 240,550 shares of the company’s stock valued at $9,894,000 after purchasing an additional 8,133 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Citigroup by 4.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 291,009 shares of the company’s stock valued at $11,969,000 after purchasing an additional 12,475 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $61.33 on Wednesday. The firm’s 50-day moving average is $59.36 and its two-hundred day moving average is $52.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90. The stock has a market capitalization of $117.46 billion, a P/E ratio of 18.14, a P/E/G ratio of 0.93 and a beta of 1.52.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period last year, the company earned $1.86 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.46%. Citigroup’s dividend payout ratio is presently 62.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on C shares. HSBC increased their price target on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, January 3rd. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a report on Wednesday, January 10th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $65.00 in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.85.

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.