&Partners Grows Position in Citigroup Inc. (NYSE:C)

&Partners increased its position in Citigroup Inc. (NYSE:C) by 148.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 18,486 shares of the company’s stock after purchasing an additional 11,057 shares during the period. &Partners’ holdings in Citigroup were worth $1,173,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. MONECO Advisors LLC lifted its holdings in shares of Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC lifted its stake in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the period. Finally, Family Legacy Inc. grew its stake in shares of Citigroup by 2.9% during the first quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock valued at $400,000 after buying an additional 179 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.8 %

Citigroup stock opened at $62.14 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a market cap of $118.53 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.68 and a beta of 1.46. The business has a fifty day moving average of $62.32 and a two-hundred day moving average of $60.66. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Argus raised their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Evercore ISI upped their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.06.

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.