Victory Capital Management Inc. Acquires 662,428 Shares of Citigroup Inc. (NYSE:C)

Victory Capital Management Inc. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 65.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,681,841 shares of the company’s stock after purchasing an additional 662,428 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Citigroup worth $86,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of C. International Assets Investment Management LLC purchased a new position in shares of Citigroup during the 4th quarter worth about $2,109,120,000. Greenhaven Associates Inc. lifted its stake in Citigroup by 22.4% in the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after purchasing an additional 2,948,512 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Citigroup by 42.4% during the third quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock valued at $266,709,000 after buying an additional 1,930,296 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Citigroup by 251.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock valued at $96,910,000 after buying an additional 1,685,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Citigroup by 49.8% in the third quarter. Envestnet Asset Management Inc. now owns 2,885,568 shares of the company’s stock worth $118,683,000 after buying an additional 959,040 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on C shares. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. HSBC raised their target price on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $46.00 to $65.00 in a report on Tuesday, January 30th. Piper Sandler increased their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

Citigroup Stock Performance

Shares of Citigroup stock opened at $61.50 on Friday. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90. The company has a market capitalization of $117.79 billion, a PE ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $59.59 and a two-hundred day simple moving average of $52.48.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. Research analysts expect that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.45%. Citigroup’s payout ratio is 62.72%.

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.