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

Callodine Capital Management LP raised its stake in shares of Citigroup Inc. (NYSE:C) by 50.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 226,250 shares of the company’s stock after acquiring an additional 76,250 shares during the period. Citigroup makes up about 2.0% of Callodine Capital Management LP’s holdings, making the stock its 21st largest holding. Callodine Capital Management LP’s holdings in Citigroup were worth $19,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Citigroup by 13.5% in the first quarter. Chicago Partners Investment Group LLC now owns 18,950 shares of the company’s stock worth $1,331,000 after purchasing an additional 2,259 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Citigroup by 62.2% in the first quarter. Headlands Technologies LLC now owns 11,859 shares of the company’s stock worth $842,000 after purchasing an additional 4,547 shares during the last quarter. Citigroup Inc. lifted its position in shares of Citigroup by 77.3% in the first quarter. Citigroup Inc. now owns 1,658,685 shares of the company’s stock worth $117,750,000 after buying an additional 722,930 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in Citigroup by 16.1% during the first quarter. Founders Financial Alliance LLC now owns 7,116 shares of the company’s stock valued at $505,000 after buying an additional 987 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on C shares. Truist Financial lifted their price objective on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on shares of Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wells Fargo & Company boosted their target price 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, Barclays increased their price target on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.70.

Citigroup Trading Up 1.1%

Shares of C opened at $108.95 on Friday. The company’s fifty day simple moving average is $100.11 and its 200-day simple moving average is $93.10. The company has a market cap of $194.94 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.54 and a beta of 1.21. The company has a current ratio of 0.99, a quick 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 posted its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share 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 analyst estimates of $20.92 billion. During the same period in the prior year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend 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.