Citigroup Inc. (NYSE:C) Stake Raised by Pallas Capital Advisors LLC

by · The Cerbat Gem

Pallas Capital Advisors LLC increased its holdings in Citigroup Inc. (NYSE:C – Free Report) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,291 shares of the company’s stock after buying an additional 645 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Citigroup were worth $1,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares in the last quarter. Legal & General Group Plc lifted its holdings in Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Greenhaven Associates Inc. grew its position in Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Citigroup by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after buying an additional 168,070 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 0.8 %

C stock opened at $64.69 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $123.39 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 52-week low of $38.41 and a 52-week high of $67.81. The company’s 50 day simple moving average is $61.79 and its 200-day simple moving average is $62.03.

Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer decreased their price target on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Bank of America upped their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.06.

Get Our Latest Stock Report on C

Citigroup Profile

(Free Report)

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.

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