Naples Money Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Naples Money Management LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 40,834 shares of the company’s stock, valued at approximately $2,101,000. Citigroup makes up approximately 2.0% of Naples Money Management LLC’s holdings, making the stock its 23rd biggest position.

A number of other hedge funds also recently made changes to their positions in C. Carmel Capital Partners LLC purchased a new position in shares of Citigroup during the third quarter worth approximately $25,000. SkyView Investment Advisors LLC purchased a new position in Citigroup in the 1st quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in Citigroup during the fourth quarter valued at about $35,000. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 73.8% during the third quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after buying an additional 290 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 1.4 %

C stock traded up $0.83 during trading on Friday, hitting $59.15. 13,367,494 shares of the stock traded hands, compared to its average volume of 17,210,979. The stock has a market cap of $113.29 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.90. The firm’s 50 day moving average is $58.19 and its two-hundred day moving average is $51.03.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the prior year, the firm posted $1.86 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.91 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Analyst Ratings Changes

Several brokerages have recently issued reports on C. Piper Sandler raised their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Morgan Stanley raised shares of Citigroup from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. Oppenheimer cut their target price on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.91.

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.