Bridgewater Advisors Inc. Buys Shares of 6,980 Citigroup Inc. (NYSE:C)

by · The Cerbat Gem

Bridgewater Advisors Inc. bought a new stake in Citigroup Inc. (NYSE:C – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,980 shares of the company’s stock, valued at approximately $481,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock valued at $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. FMR LLC raised its holdings in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after buying an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a report on Monday, July 7th. Morgan Stanley increased their price objective on Citigroup from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Bank of America raised their price target on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Truist Financial lifted their target price on Citigroup from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $89.11.

Read Our Latest Report on Citigroup

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Performance

NYSE C opened at $90.55 on Wednesday. The company has a market capitalization of $169.12 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.69 and a beta of 1.34. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $91.80. The stock has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $75.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Citigroup Company Profile

(Free Report)

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.

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