Van ECK Associates Corp Purchases 23,316 Shares of Citigroup Inc. (NYSE:C)

Van ECK Associates Corp grew its stake in shares of Citigroup Inc. (NYSE:CFree Report) by 9.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 262,424 shares of the company’s stock after purchasing an additional 23,316 shares during the period. Van ECK Associates Corp’s holdings in Citigroup were worth $10,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC increased its holdings in Citigroup by 130.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after purchasing an additional 99,371 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Citigroup in the third quarter valued at approximately $209,000. Capital Research Global Investors grew its holdings in shares of Citigroup by 47.0% in the second quarter. Capital Research Global Investors now owns 12,473,605 shares of the company’s stock valued at $574,285,000 after acquiring an additional 3,986,558 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Citigroup by 17.1% in the second quarter. Kestra Private Wealth Services LLC now owns 60,384 shares of the company’s stock valued at $2,780,000 after acquiring an additional 8,821 shares in the last quarter. Finally, YHB Investment Advisors Inc. grew its holdings in shares of Citigroup by 1.7% in the second quarter. YHB Investment Advisors Inc. now owns 52,151 shares of the company’s stock valued at $2,401,000 after acquiring an additional 886 shares in the last quarter. 69.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. Barclays upped their target price on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Wolfe Research raised Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, January 3rd. Piper Sandler increased their price objective on Citigroup from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, January 16th. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Finally, The Goldman Sachs Group increased their price objective on Citigroup from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Hold” and a consensus target price of $56.62.

Get Our Latest Stock Report on Citigroup

Citigroup Stock Down 0.6 %

C opened at $53.98 on Friday. The stock has a market cap of $103.31 billion, a PE ratio of 13.53, a P/E/G ratio of 1.49 and a beta of 1.52. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $57.95. The business’s fifty day simple moving average is $52.02 and its 200 day simple moving average is $45.82.

Citigroup (NYSE:CGet Free Report) last released its earnings results on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). The firm had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. As a group, research analysts expect that Citigroup Inc. will post 5.94 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be issued a $0.53 dividend. The ex-dividend date is Friday, February 2nd. This represents a $2.12 annualized dividend and a dividend yield of 3.93%. Citigroup’s dividend payout ratio is currently 53.13%.

About Citigroup

(Free Report)

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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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