American Century Companies Inc. Has $21.54 Million Stake in Citigroup Inc. (NYSE:C)

American Century Companies Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,400 shares of the company’s stock after acquiring an additional 7,778 shares during the quarter. American Century Companies Inc.’s holdings in Citigroup were worth $21,538,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in Citigroup in the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $29,000. Beacon Capital Management LLC raised its position in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Citigroup by 1,962.1% during the 4th 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 position in Citigroup in the 2nd quarter valued at $32,000. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on C. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer raised their target price 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. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Up 5.2 %

NYSE:C opened at $63.02 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The stock has a 50-day moving average price of $61.40 and a two-hundred day moving average price of $61.41. The stock has a market cap of $120.21 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.62 and a beta of 1.45. The company has a current ratio of 0.94, a quick 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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the firm earned $1.37 EPS. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities 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 given a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

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.