Daiwa Securities Group Inc. Buys 23,998 Shares of Citigroup Inc. (NYSE:C)

Daiwa Securities Group Inc. grew its stake in Citigroup Inc. (NYSE:C) by 12.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,153 shares of the company’s stock after purchasing an additional 23,998 shares during the period. Daiwa Securities Group Inc.’s holdings in Citigroup were worth $10,965,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Carmel Capital Partners LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at approximately $25,000. SkyView Investment Advisors LLC bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $35,000. GHP Investment Advisors Inc. lifted its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after acquiring an additional 290 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its stake in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 0.2 %

Shares of NYSE:C opened at $58.31 on Thursday. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90. The business’s fifty day simple moving average is $58.11 and its 200-day simple moving average is $50.98. The company has a market capitalization of $111.68 billion, a PE ratio of 17.21, a P/E/G ratio of 0.86 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same period last year, the business posted $1.86 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup Inc. will post 5.91 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.64%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on C. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Keefe, Bruyette & Woods raised their price target on Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a research note on Wednesday, January 10th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. Finally, Piper Sandler raised their price target on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.91.

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.