Prospector Partners LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Prospector Partners LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 31.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 257,385 shares of the company’s stock after acquiring an additional 60,975 shares during the quarter. Citigroup makes up about 1.7% of Prospector Partners LLC’s holdings, making the stock its 24th largest holding. Prospector Partners LLC’s holdings in Citigroup were worth $13,240,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup during the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. acquired a new position in Citigroup during the 4th quarter valued at approximately $35,000. Tennessee Valley Asset Management Partners acquired a new position in Citigroup during the 4th quarter valued at approximately $39,000. Finally, Venturi Wealth Management LLC increased its stake in Citigroup by 52.5% during the 4th quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock valued at $41,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C stock traded down $1.21 during midday trading on Thursday, hitting $62.61. 6,263,604 shares of the stock traded hands, compared to its average volume of 15,754,339. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $119.42 billion, a P/E ratio of 18.70, a PEG ratio of 0.97 and a beta of 1.49. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The stock’s fifty day simple moving average is $61.52 and its 200-day simple moving average is $54.87.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, analysts expect that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders 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 yield of 3.39%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Oppenheimer cut their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. Jefferies Financial Group increased their price objective on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Evercore ISI increased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.85.

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.