Prudential PLC Buys 9,871 Shares of Citigroup Inc. (NYSE:C)

Prudential PLC raised its stake in Citigroup Inc. (NYSE:C) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,724 shares of the company’s stock after acquiring an additional 9,871 shares during the quarter. Prudential PLC’s holdings in Citigroup were worth $10,115,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc raised its holdings in Citigroup by 72.1% in the 4th quarter. Bell Investment Advisors Inc now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Citigroup during the fourth quarter worth approximately $33,000. Heritage Wealth Management LLC increased its holdings in shares of Citigroup by 140.1% during the fourth quarter. Heritage Wealth Management LLC now owns 862 shares of the company’s stock worth $39,000 after purchasing an additional 503 shares during the period. New Hampshire Trust bought a new position in shares of Citigroup during the fourth quarter worth approximately $45,000. Finally, Arlington Partners LLC increased its holdings in shares of Citigroup by 81.5% during the first quarter. Arlington Partners LLC now owns 991 shares of the company’s stock worth $46,000 after purchasing an additional 445 shares during the period. 69.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of Citigroup from $50.00 to $48.00 in a report on Thursday, May 25th. Odeon Capital Group raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $50.51 target price on the stock in a report on Tuesday, July 18th. Evercore ISI lowered their target price on shares of Citigroup from $53.00 to $50.00 in a report on Friday, May 12th. Societe Generale lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Piper Sandler reduced their price target on shares of Citigroup from $53.00 to $50.00 in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.87.

Citigroup Price Performance

Citigroup stock traded up $0.15 during mid-day trading on Friday, reaching $41.44. The company had a trading volume of 4,693,085 shares, compared to its average volume of 17,397,805. Citigroup Inc. has a fifty-two week low of $40.01 and a fifty-two week high of $53.23. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.45. The company has a market cap of $80.67 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.62 and a beta of 1.55. The business has a fifty day simple moving average of $45.17 and a 200 day simple moving average of $46.64.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $19.34 billion. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. Citigroup’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 5.75 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s payout ratio is 33.60%.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.