Wallace Advisory Group LLC Has $418,000 Stake in Citigroup Inc. (NYSE:C)

Wallace Advisory Group LLC lowered its holdings in Citigroup Inc. (NYSE:C) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 6,582 shares of the company’s stock after selling 217 shares during the period. Wallace Advisory Group LLC’s holdings in Citigroup were worth $418,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Lloyd Advisory Services LLC. raised its position in Citigroup by 355.9% in the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after purchasing an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the period. Lazard Asset Management LLC boosted its holdings in Citigroup by 13.4% in the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the last quarter. Capital World Investors increased its position in Citigroup by 9.1% in 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 period. Finally, BDF Gestion bought a new stake in Citigroup during the 2nd quarter worth about $3,861,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on C shares. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada raised their price target on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Citigroup Stock Up 2.2 %

Shares of Citigroup stock traded up $1.33 on Friday, hitting $62.64. The company had a trading volume of 10,100,488 shares, compared to its average volume of 14,445,869. The stock has a 50-day moving average of $60.61 and a 200-day moving average of $61.77. 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 twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping 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 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 quarter in the prior year, the company earned $1.37 EPS. Research analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The company 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 a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.58%. Citigroup’s payout ratio is presently 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.