Van ECK Associates Corp Has $14.32 Million Stock Position in Citigroup Inc. (NYSE:C)

Van ECK Associates Corp grew its position in Citigroup Inc. (NYSE:C) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,329 shares of the company’s stock after purchasing an additional 15,905 shares during the period. Van ECK Associates Corp’s holdings in Citigroup were worth $14,318,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Citigroup in the third quarter worth approximately $209,000. Simplicity Solutions LLC increased its stake in shares of Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after purchasing an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after purchasing an additional 449,310 shares in the last quarter. GFS Advisors LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $2,003,000. Finally, Sound Income Strategies LLC boosted its holdings in Citigroup by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after purchasing an additional 21,440 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

C stock opened at $61.35 on Thursday. The company has a 50 day moving average price of $59.48 and a 200 day moving average price of $52.41. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $117.50 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. Analysts forecast that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.46%. Citigroup’s payout ratio is presently 62.72%.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Jefferies Financial Group lifted their price objective on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Piper Sandler boosted their target price on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $62.85.

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.