Citigroup Inc. (NYSE:C) is Alden Global Capital LLC’s 3rd Largest Position

Alden Global Capital LLC grew its holdings in Citigroup Inc. (NYSE:C) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,542 shares of the company’s stock after purchasing an additional 16,523 shares during the period. Citigroup comprises 9.7% of Alden Global Capital LLC’s portfolio, making the stock its 3rd largest holding. Alden Global Capital LLC’s holdings in Citigroup were worth $11,711,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC bought a new position in shares of Citigroup in the 2nd quarter valued at approximately $25,000. Beacon Capital Management LLC raised its position in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of Citigroup during the 2nd quarter worth $32,000. Finally, Strategic Financial Concepts LLC grew its stake in Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after buying an additional 48,484 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on C shares. Royal Bank of Canada boosted their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Oppenheimer raised their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. 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. Argus raised their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Evercore ISI upped their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.25.

Citigroup Price Performance

Citigroup stock opened at $61.39 on Wednesday. The business has a 50 day simple moving average of $61.13 and a 200 day simple moving average of $61.59. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $117.12 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.65%. Citigroup’s payout ratio is 62.75%.

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.