NewEdge Advisors LLC Has $8.07 Million Stock Holdings in Citigroup Inc. (NYSE:C)

NewEdge Advisors LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 58.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,121 shares of the company’s stock after purchasing an additional 46,890 shares during the quarter. NewEdge Advisors LLC’s holdings in Citigroup were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lloyd Advisory Services LLC. boosted its position in Citigroup by 355.9% in the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after buying an additional 14,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Citigroup by 13.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Citigroup by 13.4% in the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares in the last quarter. Capital World Investors grew its holdings in shares of Citigroup by 9.1% during the fourth quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock worth $215,398,000 after purchasing an additional 350,087 shares during the last quarter. Finally, BDF Gestion acquired a new stake in shares of Citigroup in the second quarter valued at $3,861,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Citigroup stock opened at $62.61 on Tuesday. 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 firm has a market capitalization of $119.42 billion, a P/E ratio of 17.54, a PEG ratio of 0.69 and a beta of 1.45. The business has a 50-day moving average of $60.82 and a 200-day moving average of $61.71. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

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 analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.58%. Citigroup’s payout ratio is currently 62.75%.

Analysts Set New Price Targets

C has been the topic of several research reports. Evercore ISI upped their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley upped their price objective on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Oppenheimer lifted their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.69.

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.