HBK Sorce Advisory LLC Grows Stock Position in Citigroup Inc. (NYSE:C)

HBK Sorce Advisory LLC raised its position in Citigroup Inc. (NYSE:C) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,950 shares of the company’s stock after acquiring an additional 1,507 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Citigroup were worth $695,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter worth about $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $29,000. Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the second quarter worth $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 0.6 %

Citigroup stock opened at $57.67 on Friday. The firm has a 50-day moving average price of $61.81 and a two-hundred day moving average price of $61.33. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The firm has a market capitalization of $110.02 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion during 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 business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. 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 3.88%. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

C has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price target on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Piper Sandler increased their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Morgan Stanley boosted their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.25.

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.