ING Groep NV Invests $226,000 in Citigroup Inc. (NYSE:C)

ING Groep NV acquired a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,394 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in Citigroup during the 4th quarter worth approximately $2,109,120,000. Greenhaven Associates Inc. raised its stake in Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after acquiring an additional 2,948,512 shares during the period. AQR Capital Management LLC raised its stake in Citigroup by 42.4% during the 3rd quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock worth $266,709,000 after acquiring an additional 1,930,296 shares during the period. Fisher Asset Management LLC raised its stake in Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock worth $1,273,233,000 after acquiring an additional 1,832,819 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in Citigroup by 31.2% during the 4th quarter. Thornburg Investment Management Inc. now owns 7,092,451 shares of the company’s stock worth $364,836,000 after acquiring an additional 1,686,206 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.4 %

NYSE:C opened at $63.83 on Thursday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $64.98. The company has a market cap of $121.75 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49. The stock has a fifty day simple moving average of $61.52 and a 200-day simple moving average of $54.87. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.86 earnings per share. Analysts anticipate that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.32%. Citigroup’s payout ratio is currently 62.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on C. Jefferies Financial Group increased their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley raised shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $46.00 to $65.00 in a report on Tuesday, January 30th. Oppenheimer cut their target price on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. HSBC raised their target price on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Piper Sandler raised their target price on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.85.

Citigroup Company Profile

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.