Meiji Yasuda Life Insurance Co Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Meiji Yasuda Life Insurance Co raised its position in shares of Citigroup Inc. (NYSE:C) by 28.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,342 shares of the company’s stock after buying an additional 8,090 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Citigroup were worth $2,306,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of C. Gryphon Financial Partners LLC grew its position in Citigroup by 215.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock valued at $800,000 after purchasing an additional 10,632 shares during the last quarter. Financial Advocates Investment Management bought a new position in shares of Citigroup in the fourth quarter worth approximately $255,000. ING Groep NV bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $226,000. Gladstone Institutional Advisory LLC raised its holdings in Citigroup by 23.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 12,684 shares of the company’s stock worth $652,000 after acquiring an additional 2,388 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Citigroup by 73.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 18,750 shares of the company’s stock valued at $964,000 after acquiring an additional 7,968 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $59.30 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day simple moving average of $61.54 and a two-hundred day simple moving average of $61.42. The firm has a market capitalization of $113.10 billion, a PE ratio of 16.61, a P/E/G ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 EPS. Analysts forecast that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.78%. Citigroup’s dividend payout ratio is 62.75%.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. Oppenheimer increased their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI increased their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lifted their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.