Brookfield Corp ON Purchases New Stake in Citigroup Inc. (NYSE:C)

Brookfield Corp ON purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 547,132 shares of the company’s stock, valued at approximately $25,655,000.

Several other institutional investors also recently added to or reduced their stakes in C. WNY Asset Management LLC raised its holdings in shares of Citigroup by 2.7% during the 1st quarter. WNY Asset Management LLC now owns 8,450 shares of the company’s stock worth $396,000 after acquiring an additional 225 shares in the last quarter. X Square Capital LLC raised its holdings in shares of Citigroup by 3.8% during the 1st quarter. X Square Capital LLC now owns 6,186 shares of the company’s stock worth $290,000 after acquiring an additional 226 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Citigroup by 1.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 23,750 shares of the company’s stock valued at $1,074,000 after purchasing an additional 227 shares during the last quarter. Telemus Capital LLC increased its position in shares of Citigroup by 5.0% during the 1st quarter. Telemus Capital LLC now owns 4,888 shares of the company’s stock valued at $229,000 after purchasing an additional 231 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Citigroup by 0.9% during the 1st quarter. Sigma Planning Corp now owns 27,411 shares of the company’s stock valued at $1,285,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.

Citigroup Price Performance

Shares of C stock opened at $40.60 on Tuesday. Citigroup Inc. has a 1-year low of $40.01 and a 1-year high of $53.23. The stock’s 50-day moving average is $44.57 and its 200 day moving average is $46.16. The company has a market cap of $79.03 billion, a P/E ratio of 6.43, a PEG ratio of 1.60 and a beta of 1.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The company had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter last year, the company earned $2.30 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 5.75 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.22%. The ex-dividend date was Friday, August 4th. This is an increase from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s dividend payout ratio (DPR) is currently 33.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on C shares. Odeon Capital Group raised Citigroup from a “hold” rating to a “buy” rating and set a $50.51 target price on the stock in a research report on Tuesday, July 18th. Bank of America boosted their target price on Citigroup from $58.00 to $60.00 in a research report on Monday, June 5th. BMO Capital Markets cut their target price on Citigroup from $64.00 to $62.00 in a research report on Monday, July 17th. HSBC initiated coverage on Citigroup in a research report on Thursday, September 7th. They set a “hold” rating and a $43.00 target price on the stock. Finally, Credit Suisse Group cut their price objective on Citigroup from $54.00 to $50.00 in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.19.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.