Citigroup Inc. (NYSE:C) Shares Acquired by Old North State Trust LLC

Old North State Trust LLC boosted its holdings in Citigroup Inc. (NYSE:C) by 10.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,835 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Old North State Trust LLC’s holdings in Citigroup were worth $303,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. POM Investment Strategies LLC purchased a new position in shares of Citigroup during the second quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Citigroup during the 3rd quarter worth approximately $31,000. Northwest Investment Counselors LLC acquired a new position in Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the second quarter valued at approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

C has been the topic of several recent research reports. Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI lifted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays increased their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler increased their target price on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.63.

Citigroup Price Performance

Citigroup stock opened at $71.44 on Friday. Citigroup Inc. has a 1 year low of $47.86 and a 1 year high of $73.38. The firm has a 50 day moving average price of $67.11 and a 200 day moving average price of $63.60. The company has a market cap of $135.10 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The company’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. Citigroup’s dividend payout ratio is currently 64.93%.

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.