AMF Tjanstepension AB Takes $11.25 Million Position in Citigroup Inc. (NYSE:C)

AMF Tjanstepension AB bought a new stake in Citigroup Inc. (NYSE:C) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 177,833 shares of the company’s stock, valued at approximately $11,246,000.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC raised its stake in Citigroup by 7.9% during the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after acquiring an additional 1,300,520 shares in the last quarter. Norges Bank acquired a new position in Citigroup during the fourth quarter worth about $867,599,000. Pzena Investment Management LLC raised its stake in Citigroup by 1.3% during the fourth quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock worth $866,797,000 after acquiring an additional 223,206 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its stake in Citigroup by 22.4% during the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after acquiring an additional 2,948,512 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on C shares. Jefferies Financial Group boosted their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Piper Sandler upped their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. 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. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.03.

Citigroup Trading Up 3.2 %

NYSE C opened at $63.49 on Friday. The firm has a market capitalization of $121.10 billion, a P/E ratio of 18.78, a PEG ratio of 0.94 and a beta of 1.48. The business has a fifty day simple moving average of $62.06 and a 200 day simple moving average of $57.86. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $64.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating 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 business had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same period in the prior year, the firm posted $1.86 EPS. Citigroup’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio is presently 62.72%.

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.