Apollon Wealth Management LLC Increases Stake in Citigroup Inc. (NYSE:C)

Apollon Wealth Management LLC increased its holdings in Citigroup Inc. (NYSE:C) by 13.7% in the fourth quarter, Holdings Channel reports. The fund owned 47,485 shares of the company’s stock after purchasing an additional 5,723 shares during the quarter. Apollon Wealth Management LLC’s holdings in Citigroup were worth $2,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in C. International Assets Investment Management LLC purchased a new position in shares of Citigroup in the 4th quarter worth approximately $2,109,120,000. Greenhaven Associates Inc. grew its holdings in Citigroup by 22.4% in the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after purchasing an additional 2,948,512 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Citigroup by 42.4% during the third quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock worth $266,709,000 after purchasing an additional 1,930,296 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock valued at $1,273,233,000 after purchasing an additional 1,832,819 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Citigroup by 251.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock worth $96,910,000 after purchasing an additional 1,685,100 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on C shares. Oppenheimer reduced their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Evercore ISI lifted their price objective on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.85.

Citigroup Stock Performance

NYSE:C traded down $0.81 during trading hours on Tuesday, reaching $62.00. The company had a trading volume of 10,038,142 shares, compared to its average volume of 16,616,920. 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 business’s 50 day moving average price is $59.85 and its 200-day moving average price is $52.95. The firm has a market cap of $118.75 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last posted its earnings results 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. The firm had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. Research analysts forecast that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 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.