Ameriprise Financial Inc. Grows Position in Citigroup Inc. $C

Ameriprise Financial Inc. increased its position in shares of Citigroup Inc. (NYSE:C) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,176,320 shares of the company’s stock after purchasing an additional 535,950 shares during the period. Ameriprise Financial Inc. owned 0.82% of Citigroup worth $1,292,923,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Alden Global Capital LLC lifted its stake in Citigroup by 93.5% in the second quarter. Alden Global Capital LLC now owns 301,497 shares of the company’s stock valued at $25,663,000 after buying an additional 145,655 shares during the last quarter. Connecticut Wealth Management LLC purchased a new stake in shares of Citigroup during the 2nd quarter worth $307,000. Florida Financial Advisors LLC acquired a new position in shares of Citigroup during the 2nd quarter worth $224,000. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Citigroup by 0.4% during the 2nd quarter. Spectrum Financial Alliance Ltd LLC now owns 615,678 shares of the company’s stock worth $56,833,000 after purchasing an additional 2,714 shares during the period. Finally, Banco BTG Pactual S.A. lifted its stake in shares of Citigroup by 56.3% in the second quarter. Banco BTG Pactual S.A. now owns 125,246 shares of the company’s stock valued at $10,661,000 after purchasing an additional 45,120 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $111.82 on Friday. The firm has a market capitalization of $200.07 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21. Citigroup Inc. has a one year low of $55.51 and a one year high of $113.43. The stock’s 50 day moving average price is $101.21 and its 200 day moving average price is $94.26. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $20.92 billion. During the same quarter last year, the firm posted $1.51 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.1%. Citigroup’s dividend payout ratio (DPR) is presently 33.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price target on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley upped their price objective on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company increased their target price on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Oppenheimer reduced their target price on Citigroup from $123.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Finally, Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.47.

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.