TIAA Trust National Association Has $19.07 Million Stock Holdings in Citigroup Inc. (NYSE:C)

TIAA Trust National Association lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 73.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,453 shares of the company’s stock after buying an additional 127,468 shares during the period. TIAA Trust National Association’s holdings in Citigroup were worth $19,067,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of C. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter worth $25,000. Beacon Capital Management LLC grew its position in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter worth $32,000. Frazier Financial Advisors LLC bought a new stake in Citigroup during the 4th quarter worth $29,000. Finally, Capital Advisors Ltd. LLC grew its position in Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 1.9 %

Shares of NYSE:C opened at $61.46 on Wednesday. The business’s 50 day simple moving average is $62.55 and its two-hundred day simple moving average is $61.19. The firm has a market cap of $117.23 billion, a P/E ratio of 17.22, a PEG 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 Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, research analysts forecast that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.64%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on C. BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley boosted their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Oppenheimer increased their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada increased their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.06.

About Citigroup

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.