Gallacher Capital Management LLC Buys 4,686 Shares of Citigroup Inc. (NYSE:C)

Gallacher Capital Management LLC lifted its position in Citigroup Inc. (NYSE:C) by 62.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,183 shares of the company’s stock after acquiring an additional 4,686 shares during the period. Gallacher Capital Management LLC’s holdings in Citigroup were worth $627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Wealth Management raised its stake in shares of Citigroup by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares during the period. Founders Capital Management grew its position in shares of Citigroup by 12.5% during the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after acquiring an additional 200 shares during the period. Cowa LLC increased its stake in shares of Citigroup by 3.1% during the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after purchasing an additional 200 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Citigroup by 0.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock worth $1,267,000 after purchasing an additional 200 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Citigroup by 5.6% in the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock valued at $198,000 after purchasing an additional 205 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $46.00 to $65.00 in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. HSBC upped their price target on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $62.85.

Citigroup Trading Up 0.8 %

Citigroup stock traded up $0.51 during mid-day trading on Friday, reaching $61.52. 11,048,877 shares of the company traded hands, compared to its average volume of 15,112,875. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The firm has a market capitalization of $117.83 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49. The firm’s 50 day moving average price is $59.70 and its 200 day moving average price is $52.79.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $20.46 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 5.98 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is currently 62.72%.

Citigroup 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.