Blume Capital Management Inc. Increases Position in Citigroup Inc. (NYSE:C)

Blume Capital Management Inc. increased its position in shares of Citigroup Inc. (NYSE:C) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,452 shares of the company’s stock after acquiring an additional 15,620 shares during the period. Citigroup comprises 1.9% of Blume Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position. Blume Capital Management Inc.’s holdings in Citigroup were worth $7,225,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Citigroup in the fourth quarter valued at $2,109,120,000. Greenhaven Associates Inc. boosted its stake in shares of 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 period. AQR Capital Management LLC grew its stake in shares of Citigroup by 42.4% in the 3rd quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock valued at $266,709,000 after purchasing an additional 1,930,296 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Citigroup by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock worth $1,273,233,000 after purchasing an additional 1,832,819 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Citigroup by 251.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock worth $96,910,000 after purchasing an additional 1,685,100 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C stock traded up $0.37 on Thursday, hitting $63.12. The company’s stock had a trading volume of 3,059,600 shares, compared to its average volume of 16,386,922. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50 day moving average is $60.13 and its 200-day moving average is $53.17. The company has a market capitalization of $120.89 billion, a PE ratio of 18.76, a PEG ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last released its 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. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. Equities research analysts expect that Citigroup Inc. will post 5.98 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.36%. Citigroup’s dividend payout ratio is currently 62.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on C shares. Evercore ISI lifted their price target on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $65.00 in a report on Tuesday, January 30th. Piper Sandler boosted their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. HSBC boosted their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a report on Wednesday, January 10th. One 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. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $62.85.

Citigroup Company 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.