Callodine Capital Management LP Acquires 76,250 Shares of Citigroup Inc. $C

Callodine Capital Management LP increased its holdings in shares of Citigroup Inc. (NYSE:C) by 50.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,250 shares of the company’s stock after purchasing an additional 76,250 shares during the quarter. Citigroup accounts for 2.0% of Callodine Capital Management LP’s portfolio, making the stock its 21st biggest holding. Callodine Capital Management LP’s holdings in Citigroup were worth $19,258,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC lifted its stake in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. DHJJ Financial Advisors Ltd. raised its holdings in shares of Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. WPG Advisers LLC bought a new position in Citigroup during the first quarter valued at approximately $38,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the second quarter worth approximately $38,000. Finally, Flaharty Asset Management LLC bought a new stake in Citigroup in the 1st quarter worth approximately $43,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 1.1%

C stock opened at $108.95 on Friday. The business’s 50-day moving average price is $100.11 and its 200-day moving average price is $93.10. The stock has a market cap of $194.94 billion, a P/E ratio of 15.30, a PEG ratio of 0.54 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $109.37.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. During the same quarter last year, the business earned $1.51 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were paid a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. Citigroup’s payout ratio is 33.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group reissued a “neutral” rating and set a $108.00 price target on shares of Citigroup in a report on Monday, November 24th. Cowen reissued a “hold” rating and issued a $110.00 target price on shares of Citigroup in a report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley upped their price target on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Piper Sandler raised their price objective on shares of Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $108.70.

Citigroup 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.