Elgethun Capital Management Grows Stock Holdings in Citigroup Inc. (NYSE:C)

Elgethun Capital Management lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,239 shares of the company’s stock after acquiring an additional 1,467 shares during the quarter. Elgethun Capital Management’s holdings in Citigroup were worth $2,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Citigroup by 86,191.4% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 545,751,112 shares of the company’s stock valued at $25,126,381,000 after purchasing an additional 545,118,661 shares in the last quarter. Snider Financial Group boosted its position in Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock worth $1,646,775,000 after acquiring an additional 519,202 shares during the period. Fisher Asset Management LLC raised its position in shares of Citigroup by 23.7% in the 2nd quarter. Fisher Asset Management LLC now owns 27,068,272 shares of the company’s stock worth $1,246,223,000 after acquiring an additional 5,180,027 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Citigroup by 2.6% during the fourth quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares in the last quarter. 69.26% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C traded down $0.15 during mid-day trading on Tuesday, hitting $45.11. 2,488,296 shares of the company traded hands, compared to its average volume of 17,520,492. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $53.23. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average price of $41.32 and a two-hundred day moving average price of $43.94. The stock has a market cap of $86.34 billion, a price-to-earnings ratio of 7.17, a P/E/G ratio of 2.46 and a beta of 1.55.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 13th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.29. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $19.27 billion. During the same period in the prior year, the firm earned $1.50 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, November 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.70%. Citigroup’s dividend payout ratio is currently 33.60%.

Insider Transactions at Citigroup

In other Citigroup news, insider Andrew John Morton sold 28,096 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $40.66, for a total transaction of $1,142,383.36. Following the completion of the sale, the insider now directly owns 410,060 shares of the company’s stock, valued at $16,673,039.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Piper Sandler lowered their price objective on Citigroup from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Wells Fargo & Company cut their price objective on shares of Citigroup from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Morgan Stanley dropped their price target on Citigroup from $45.00 to $43.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Royal Bank of Canada reduced their price objective on Citigroup from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, September 20th. Finally, TheStreet downgraded Citigroup from a “b-” rating to a “c+” rating in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Hold” and a consensus target price of $51.28.

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.