GMT Capital Corp Takes $42.83 Million Position in Citigroup Inc. $C

GMT Capital Corp acquired a new position in shares of Citigroup Inc. (NYSE:C) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 503,200 shares of the company’s stock, valued at approximately $42,832,000. Citigroup accounts for about 1.8% of GMT Capital Corp’s holdings, making the stock its 18th largest holding.

Other hedge funds have also modified their holdings of the company. Keystone Financial Services acquired a new position in shares of Citigroup during the 2nd quarter worth approximately $216,000. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Hayek Kallen Investment Management increased its holdings in Citigroup by 125.0% during the first quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after buying an additional 8,630 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Citigroup by 3.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,930 shares of the company’s stock worth $21,955,000 after acquiring an additional 9,644 shares in the last quarter. Finally, D.B. Root & Company LLC acquired a new stake in Citigroup in the first quarter valued at $203,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $111.82 on Friday. The firm has a market cap of $200.07 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21. The business’s 50 day moving average is $101.21 and its 200-day moving average is $94.26. 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 1-year low of $55.51 and a 1-year high of $113.43.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.35. The business had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

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 $0.60 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.1%. Citigroup’s dividend payout ratio is 33.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Truist Financial boosted their price target on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Piper Sandler set a $118.00 price objective on Citigroup in a research note on Wednesday. Cowen reiterated a “hold” rating on shares of Citigroup in a research note on Wednesday. Finally, TD Cowen increased their price target on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price 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.