Fortitude Family Office LLC Acquires 249 Shares of Citigroup Inc. (NYSE:C)

Fortitude Family Office LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,519 shares of the company’s stock after purchasing an additional 249 shares during the period. Fortitude Family Office LLC’s holdings in Citigroup were worth $107,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Caxton Associates LP grew its holdings in shares of Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after buying an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB raised its holdings in Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after acquiring an additional 1,404,120 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock opened at $73.23 on Friday. The stock has a market cap of $138.50 billion, a P/E ratio of 21.23, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $70.03 and its 200 day moving average is $64.95. Citigroup Inc. has a one year low of $50.51 and a one year high of $74.29.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.06%. Citigroup’s payout ratio is currently 64.93%.

Analyst Ratings Changes

Several research analysts have recently weighed in on C shares. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Piper Sandler lifted their price target on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial began coverage on shares of Citigroup in a research report on Tuesday. They issued a “buy” rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.13.

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.