Stevens Capital Management LP Boosts Stock Position in Citigroup Inc. (NYSE:C)

Stevens Capital Management LP raised its stake in Citigroup Inc. (NYSE:C) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,109 shares of the company’s stock after purchasing an additional 7,733 shares during the period. Stevens Capital Management LP’s holdings in Citigroup were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in shares of Citigroup by 44.6% during the third quarter. Stifel Financial Corp now owns 1,436,288 shares of the company’s stock worth $89,912,000 after acquiring an additional 443,198 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of Citigroup by 5.9% during the third quarter. SYM FINANCIAL Corp now owns 6,149 shares of the company’s stock worth $385,000 after acquiring an additional 344 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of Citigroup by 23.9% during the third quarter. Quadrature Capital Ltd now owns 241,515 shares of the company’s stock worth $15,121,000 after acquiring an additional 46,625 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Citigroup by 19.0% during the third quarter. Quantinno Capital Management LP now owns 224,449 shares of the company’s stock worth $14,051,000 after acquiring an additional 35,840 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Citigroup by 2.8% during the third quarter. Royal London Asset Management Ltd. now owns 789,103 shares of the company’s stock worth $49,398,000 after acquiring an additional 21,452 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.1 %

Shares of C stock opened at $71.48 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $135.19 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 0.80 and a beta of 1.45. The stock has a 50 day simple moving average of $65.89 and a 200-day simple moving average of $63.25. Citigroup Inc. has a 1-year low of $46.40 and a 1-year high of $72.80.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analysts Set New Price Targets

C has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays upped their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $82.00 in a research report on Tuesday. Wells Fargo & Company upped their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $75.00.

About Citigroup

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.