GAMMA Investing LLC Takes $714,000 Position in Citigroup Inc. (NYSE:C)

GAMMA Investing LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,716 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in shares of Citigroup by 8.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 8,108 shares of the company’s stock worth $417,000 after purchasing an additional 615 shares during the last quarter. PDS Planning Inc purchased a new stake in shares of Citigroup during the fourth quarter valued at approximately $231,000. Foster & Motley Inc. purchased a new stake in shares of Citigroup during the fourth quarter valued at approximately $382,000. Scott & Selber Inc. boosted its holdings in Citigroup by 32.5% in the fourth quarter. Scott & Selber Inc. now owns 69,964 shares of the company’s stock valued at $3,599,000 after acquiring an additional 17,153 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Citigroup in the fourth quarter worth about $376,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on C shares. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research report on Wednesday, January 10th. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. HSBC upped their price objective on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Evercore ISI boosted their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Oppenheimer cut their price target on Citigroup from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Price Performance

Shares of Citigroup stock traded up $1.70 on Tuesday, hitting $62.66. 17,421,513 shares of the company were exchanged, compared to its average volume of 17,179,559. The stock has a market capitalization of $120.00 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average price of $58.44 and a 200 day moving average price of $51.47. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.53 per share. 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 3.38%. Citigroup’s payout ratio is currently 62.72%.

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.