Brown Brothers Harriman & Co. Purchases 5,724 Shares of Citigroup Inc. (NYSE:C)

Brown Brothers Harriman & Co. increased its stake in Citigroup Inc. (NYSE:C) by 116.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,622 shares of the company’s stock after purchasing an additional 5,724 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Citigroup were worth $674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Poehling Capital Management INC. boosted its holdings in Citigroup by 1.4% in the second quarter. Poehling Capital Management INC. now owns 62,756 shares of the company’s stock worth $3,982,000 after purchasing an additional 896 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of Citigroup by 1.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 73,563 shares of the company’s stock worth $4,668,000 after acquiring an additional 985 shares during the last quarter. Mystic Asset Management Inc. boosted its stake in shares of Citigroup by 1.2% during the 2nd quarter. Mystic Asset Management Inc. now owns 23,286 shares of the company’s stock worth $1,478,000 after acquiring an additional 272 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Citigroup during the 2nd quarter worth $10,771,000. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Citigroup by 7.3% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,201,291 shares of the company’s stock valued at $76,234,000 after buying an additional 81,395 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $59.30 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The firm has a market capitalization of $113.10 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The company’s 50-day moving average is $61.54 and its 200 day moving average is $61.42.

Citigroup (NYSE:C) last posted 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. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. Research analysts forecast that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business 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. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer lifted their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.