Kathmere Capital Management LLC Raises Stake in Citigroup Inc. (NYSE:C)

Kathmere Capital Management LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,352 shares of the company’s stock after buying an additional 347 shares during the quarter. Kathmere Capital Management LLC’s holdings in Citigroup were worth $593,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new stake in shares of Citigroup in the second quarter valued at $25,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the period. Triad Wealth Partners LLC purchased a new stake in Citigroup during the second quarter valued at about $32,000. Capital Advisors Ltd. LLC boosted its position in Citigroup by 93.2% during the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after purchasing an additional 276 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Citigroup by 48.6% in the second quarter. GPS Wealth Strategies Group LLC now owns 581 shares of the company’s stock worth $37,000 after purchasing an additional 190 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 $61.87 on Friday. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $118.04 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The firm’s fifty day moving average price is $60.85 and its 200-day moving average price is $61.64.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. The firm 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 revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. On average, equities research analysts expect that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.62%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Piper Sandler boosted their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Evercore ISI lifted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.