Signaturefd LLC Raises Holdings in Citigroup Inc. (NYSE:C)

Signaturefd LLC increased its holdings in Citigroup Inc. (NYSE:C) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 27,265 shares of the company’s stock after acquiring an additional 1,407 shares during the period. Signaturefd LLC’s holdings in Citigroup were worth $1,730,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new position in Citigroup during the second quarter worth $25,000. Orion Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup during the fourth quarter worth $29,000. Beacon Capital Management LLC lifted its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its stake in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the topic of several analyst reports. Piper Sandler increased 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. Oppenheimer raised their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley raised their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, Royal Bank of Canada raised their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Trading Up 1.2 %

Shares of Citigroup stock opened at $62.64 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.68 and a beta of 1.46. The business has a 50 day moving average price of $62.53 and a 200 day moving average price of $60.98.

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, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal 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. This represents a $2.24 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, August 5th. 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.