AGF Investments Inc. Increases Stake in Citigroup Inc (NYSE:C)

AGF Investments Inc. lifted its stake in shares of Citigroup Inc (NYSE:C) by 76.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 62,512 shares of the financial services provider’s stock after buying an additional 27,175 shares during the period. AGF Investments Inc.’s holdings in Citigroup were worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in C. Lenox Wealth Management Inc. increased its position in shares of Citigroup by 71.6% during the first quarter. Lenox Wealth Management Inc. now owns 647 shares of the financial services provider’s stock valued at $27,000 after buying an additional 270 shares during the period. Stonebridge Financial Planning Group LLC purchased a new stake in Citigroup in the fourth quarter worth about $32,000. Larson Financial Group LLC grew its holdings in Citigroup by 47.1% in the first quarter. Larson Financial Group LLC now owns 756 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 242 shares during the period. Wealth Quarterback LLC purchased a new stake in Citigroup in the fourth quarter worth about $37,000. Finally, Engrave Wealth Partners LLC purchased a new stake in Citigroup in the fourth quarter worth about $39,000. Institutional investors own 78.58% of the company’s stock.

Shares of Citigroup stock opened at $44.10 on Friday. The company has a market cap of $93.68 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.83. The company’s 50 day moving average is $43.88 and its 200 day moving average is $64.42. Citigroup Inc has a twelve month low of $32.00 and a twelve month high of $83.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.16. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $18.98 billion. Citigroup had a net margin of 16.56% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.87 earnings per share. Sell-side analysts expect that Citigroup Inc will post 3.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.04 dividend on an annualized basis and a yield of 4.63%. Citigroup’s dividend payout ratio (DPR) is 26.91%.

A number of equities research analysts have weighed in on C shares. Deutsche Bank restated a “neutral” rating and issued a $61.00 price objective (down previously from $81.00) on shares of Citigroup in a report on Thursday, April 2nd. Societe Generale upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, April 14th. Wells Fargo & Co cut their price objective on shares of Citigroup from $85.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley cut their price objective on shares of Citigroup from $63.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, Piper Sandler dropped their target price on shares of Citigroup from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $77.68.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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