Claro Advisors LLC Increases Position in Citigroup Inc. (NYSE:C)

Claro Advisors LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,594 shares of the company’s stock after buying an additional 1,029 shares during the quarter. Claro Advisors LLC’s holdings in Citigroup were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Kentucky Retirement Systems lifted its stake in Citigroup by 2.6% in the fourth quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock valued at $7,877,000 after purchasing an additional 3,808 shares during the last quarter. TD Asset Management Inc increased its holdings in Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after acquiring an additional 173,137 shares during the last quarter. Lloyd Advisory Services LLC. increased its holdings in Citigroup by 355.9% in the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after acquiring an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Citigroup by 13.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI lifted 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. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. 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 report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Finally, Argus raised their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Stock Performance

NYSE C opened at $62.64 on Monday. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a fifty day moving average of $62.53 and a 200-day moving average of $61.09. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating 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 business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter last year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.58%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 62.75%.

Citigroup Company 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.