Intech Investment Management LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Intech Investment Management LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 104,407 shares of the company’s stock after buying an additional 2,896 shares during the period. Intech Investment Management LLC’s holdings in Citigroup were worth $6,626,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at approximately $25,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Citigroup during the 2nd quarter worth $32,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $62.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $61.30 and its 200-day moving average is $61.46. The stock has a market cap of $118.53 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share 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 firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict 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 issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.60%. This is an increase 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 research firms recently commented on C. Argus lifted their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI lifted 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. Morgan Stanley upped their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, BMO Capital Markets boosted 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

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.