AM Investment Strategies LLC Acquires 1,178 Shares of Citigroup Inc. (NYSE:C)

AM Investment Strategies LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,736 shares of the company’s stock after buying an additional 1,178 shares during the period. AM Investment Strategies LLC’s holdings in Citigroup were worth $1,735,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Northern Trust Corp raised its stake in Citigroup by 1.2% during the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock worth $824,710,000 after buying an additional 232,652 shares during the last quarter. Pzena Investment Management LLC raised its stake in Citigroup by 3.0% during the third quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after buying an additional 486,952 shares during the last quarter. Greenhaven Associates Inc. raised its stake in Citigroup by 22.4% during the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after buying an additional 2,948,512 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Citigroup by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,751,201 shares of the company’s stock worth $565,587,000 after buying an additional 192,631 shares during the last quarter. Finally, Sanders Capital LLC raised its stake in Citigroup by 0.3% during the third quarter. Sanders Capital LLC now owns 11,496,482 shares of the company’s stock worth $472,850,000 after buying an additional 30,501 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.1 %

Shares of NYSE C traded down $0.69 during mid-day trading on Thursday, reaching $61.78. 13,330,685 shares of the company’s stock traded hands, compared to its average volume of 17,043,361. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day simple moving average of $58.94 and a 200 day simple moving average of $51.77. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The stock has a market cap of $118.33 billion, a P/E ratio of 18.28, a PEG ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same period last year, the firm earned $1.86 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI raised their price target on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Wednesday, January 3rd. Piper Sandler raised their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

About Citigroup

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.