Grayhawk Investment Strategies Inc. Takes $70,000 Position in Citigroup Inc. (NYSE:C)

Grayhawk Investment Strategies Inc. bought a new stake in shares of Citigroup Inc. (NYSE:C) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,100 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds have also recently made changes to their positions in the company. Inscription Capital LLC purchased a new stake in Citigroup in the 1st quarter worth about $284,000. BRYN MAWR TRUST Co raised its position in Citigroup by 4.1% in the 4th quarter. BRYN MAWR TRUST Co now owns 10,129 shares of the company’s stock worth $458,000 after purchasing an additional 401 shares during the period. Leo Brokerage LLC purchased a new stake in Citigroup in the 1st quarter worth about $532,000. Berkeley Capital Partners LLC raised its position in Citigroup by 4.4% in the 1st quarter. Berkeley Capital Partners LLC now owns 20,333 shares of the company’s stock worth $953,000 after purchasing an additional 858 shares during the period. Finally, Handelsbanken Fonder AB raised its position in Citigroup by 6.4% in the 1st quarter. Handelsbanken Fonder AB now owns 904,234 shares of the company’s stock worth $42,400,000 after purchasing an additional 54,729 shares during the period. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on C. Bank of America raised their target price on shares of Citigroup from $58.00 to $60.00 in a research report on Monday, June 5th. Morgan Stanley reiterated an “underweight” rating and set a $45.00 price objective on shares of Citigroup in a research note on Tuesday, July 18th. Piper Sandler dropped their price objective on shares of Citigroup from $53.00 to $50.00 in a research note on Monday, July 17th. Oppenheimer lowered their target price on shares of Citigroup from $88.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Finally, TheStreet downgraded shares of Citigroup from a “b-” rating to a “c+” rating in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of “Hold” and an average price target of $53.19.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.14 during trading hours on Tuesday, reaching $40.73. The stock had a trading volume of 1,242,634 shares, compared to its average volume of 17,242,525. The stock’s 50 day moving average is $44.57 and its 200 day moving average is $46.16. The firm has a market capitalization of $79.29 billion, a PE ratio of 6.43, a PEG ratio of 1.60 and a beta of 1.57. Citigroup Inc. has a twelve month low of $40.01 and a twelve month 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.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 14th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. The firm had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 5.75 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, August 4th. This is a boost from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s dividend payout ratio is currently 33.60%.

Citigroup Profile

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.