PGGM Investments Acquires 60,638 Shares of Citigroup Inc. (NYSE:C)

PGGM Investments boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 53.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,544 shares of the company’s stock after acquiring an additional 60,638 shares during the period. PGGM Investments’ holdings in Citigroup were worth $8,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in shares of Citigroup by 1.2% in the 3rd quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after buying an additional 232,652 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Citigroup by 3.0% in the 3rd quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock valued at $683,886,000 after buying an additional 486,952 shares in the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of Citigroup by 22.4% in the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after buying an additional 2,948,512 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Citigroup by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,751,201 shares of the company’s stock valued at $565,587,000 after buying an additional 192,631 shares in the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Citigroup by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 11,496,482 shares of the company’s stock valued at $472,850,000 after buying an additional 30,501 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on C. BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a report on Wednesday, January 10th. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Barclays lifted their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Evercore ISI lifted their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Piper Sandler lifted their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Stock Performance

Shares of NYSE:C traded up $0.87 during trading on Friday, hitting $62.66. 16,364,096 shares of the stock traded hands, compared to its average volume of 14,990,358. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market cap of $120.01 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 0.94 and a beta of 1.52. The company has a fifty day moving average price of $59.09 and a two-hundred day moving average price of $51.99. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. As a group, equities analysts predict that Citigroup Inc. will post 5.97 EPS for the current 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 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.