Renaissance Technologies LLC Acquires 119,123 Shares of Citigroup Inc. (NYSE:C)

Renaissance Technologies LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,278,643 shares of the company’s stock after buying an additional 119,123 shares during the period. Renaissance Technologies LLC owned 0.07% of Citigroup worth $81,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of C. POM Investment Strategies LLC bought a new stake in Citigroup in the second quarter valued at approximately $25,000. Beacon Capital Management LLC increased its stake in 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 in the last quarter. Triad Wealth Partners LLC bought a new stake in Citigroup in the second quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Citigroup in the fourth quarter valued at approximately $29,000. Finally, Capital Advisors Ltd. LLC increased its stake in Citigroup by 93.2% in the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after purchasing an additional 276 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on C. Morgan Stanley upped their target price on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI increased their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Piper Sandler increased their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Argus increased their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Performance

Shares of C stock opened at $58.39 on Tuesday. The stock has a market cap of $111.38 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.62 and a beta of 1.45. 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 fifty day moving average price of $61.68 and a two-hundred day moving average price of $61.40. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts predict that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 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.