1834 Investment Advisors Co. Increases Stock Position in Citigroup Inc. (NYSE:C)

1834 Investment Advisors Co. increased its stake in shares of Citigroup Inc. (NYSE:C) by 44.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,121 shares of the company’s stock after purchasing an additional 19,225 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Citigroup were worth $3,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in shares of Citigroup by 732.2% during the 1st quarter. Jennison Associates LLC now owns 60,766 shares of the company’s stock worth $3,843,000 after acquiring an additional 53,464 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Citigroup during the 1st quarter worth about $63,000. Avidian Wealth Solutions LLC increased its position in Citigroup by 7.9% during the 1st quarter. Avidian Wealth Solutions LLC now owns 5,371 shares of the company’s stock worth $340,000 after purchasing an additional 395 shares in the last quarter. Catalina Capital Group LLC purchased a new position in Citigroup in the first quarter valued at approximately $253,000. Finally, Embree Financial Group acquired a new position in Citigroup during the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $63.69 on Wednesday. The business has a fifty day simple moving average of $61.98 and a 200-day simple moving average of $62.19. The firm has a market cap of $121.51 billion, a PE ratio of 18.46, a P/E/G ratio of 0.71 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the firm posted $1.52 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.52%. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer raised their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley lowered their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Argus upped their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Piper Sandler increased their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

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.