Principal Financial Group Inc. Buys 383,534 Shares of Citigroup Inc. (NYSE:C)

Principal Financial Group Inc. grew its position in Citigroup Inc. (NYSE:C) by 11.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,728,261 shares of the company’s stock after buying an additional 383,534 shares during the period. Principal Financial Group Inc.’s holdings in Citigroup were worth $233,389,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in shares of Citigroup during the second quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the third quarter worth about $28,000. Beacon Capital Management LLC increased its holdings in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup in the 2nd quarter valued at about $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE C opened at $68.09 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market cap of $129.90 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.69 and a beta of 1.44. The stock has a 50-day moving average of $62.17 and a two-hundred day moving average of $62.27. Citigroup Inc. has a 1-year low of $41.28 and a 1-year high of $70.09.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. As a group, analysts anticipate that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.29%. Citigroup’s payout ratio is 64.93%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley cut their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Bank of America raised their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.06.

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.