Alden Global Capital LLC Has $25.66 Million Stake in Citigroup Inc. $C

Alden Global Capital LLC boosted its holdings in Citigroup Inc. (NYSE:C) by 93.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,497 shares of the company’s stock after buying an additional 145,655 shares during the quarter. Citigroup makes up 15.8% of Alden Global Capital LLC’s holdings, making the stock its biggest holding. Alden Global Capital LLC’s holdings in Citigroup were worth $25,663,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Citigroup by 0.7% during the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock worth $14,117,313,000 after buying an additional 1,148,451 shares in the last quarter. Geode Capital Management LLC grew its position in Citigroup by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock worth $3,645,084,000 after acquiring an additional 411,894 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Franklin Resources Inc. raised its position in Citigroup by 2.2% in the second quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock valued at $2,748,571,000 after purchasing an additional 679,967 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Citigroup by 3.2% in the second quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock valued at $2,737,583,000 after purchasing an additional 988,152 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Citigroup in a report on Wednesday. JPMorgan Chase & Co. raised shares of Citigroup from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $107.00 to $124.00 in a report on Friday. 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. Wells Fargo & Company lifted their price target on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Piper Sandler set a $118.00 price objective on Citigroup in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $112.47.

Citigroup Price Performance

Citigroup stock opened at $111.82 on Friday. The stock has a market capitalization of $200.07 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.55 and a beta of 1.21. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $113.43. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50 day moving average price is $101.21 and its two-hundred day moving average price is $94.26.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

About Citigroup

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.