Citigroup Inc. (NYSE:C) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its position in shares of Citigroup Inc. (NYSE:C) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,430 shares of the company’s stock after buying an additional 2,175 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Citigroup were worth $3,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. increased its position in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares during the period. NorthRock Partners LLC increased its position in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after buying an additional 165 shares during the period. Family Legacy Inc. increased its position in Citigroup by 2.9% in the first quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after buying an additional 179 shares during the period. Accel Wealth Management increased its position in Citigroup by 3.9% in the first quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock worth $311,000 after buying an additional 185 shares during the period. Finally, Massachusetts Wealth Management increased its position in Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 1.3 %

Shares of C traded up $0.81 during midday trading on Friday, reaching $65.18. 9,661,252 shares of the stock were exchanged, compared to its average volume of 13,410,551. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a market cap of $124.33 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 0.70 and a beta of 1.46. The firm has a 50 day simple moving average of $63.06 and a 200-day simple moving average of $59.77. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter last year, the firm earned $1.37 EPS. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 5.84 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.44%. Citigroup’s payout ratio is currently 59.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on C. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. BMO Capital Markets raised their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Oppenheimer raised their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.25.

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.