Highland Capital Management LLC Boosts Stake in Citigroup Inc. (NYSE:C)

Highland Capital Management LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,906 shares of the company’s stock after acquiring an additional 5,175 shares during the quarter. Highland Capital Management LLC’s holdings in Citigroup were worth $12,577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of 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. Swedbank AB purchased a new position in Citigroup during the first quarter worth about $253,286,000. Acadian Asset Management LLC boosted its holdings in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the last quarter. Caxton Associates LP grew its stake in shares of Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares during the period. Finally, DAVENPORT & Co LLC increased its holdings in shares of Citigroup by 1,749.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock worth $82,985,000 after buying an additional 1,243,249 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 2.0 %

Shares of NYSE C opened at $61.76 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The company has a market capitalization of $117.80 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. 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 business has a 50-day moving average of $61.67 and a two-hundred day moving average of $61.95.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 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 analyst estimates of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 earnings per share. On average, analysts forecast that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is currently 62.75%.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. The Goldman Sachs Group cut their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America upped their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer dropped their price target on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.06.

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.