Citigroup Inc. (NYSE:C) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,279,685 shares of the company’s stock after acquiring an additional 47,754 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Citigroup worth $208,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. POM Investment Strategies LLC purchased a new position in shares of Citigroup during the second quarter worth $25,000. Frazier Financial Advisors LLC purchased a new position in shares of Citigroup during the fourth quarter worth $29,000. Beacon Capital Management LLC boosted its position in shares of 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 buying an additional 212 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of 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 buying an additional 569 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the second quarter worth $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on C. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Royal Bank of Canada lifted their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Morgan Stanley lifted their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Up 0.6 %

Shares of NYSE C opened at $57.67 on Monday. The business has a 50-day moving average of $61.81 and a two-hundred day moving average of $61.38. 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 1 year low of $38.17 and a 1 year high of $67.81. The company has a market capitalization of $110.00 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (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 analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 EPS. On average, analysts forecast that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.88%. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 62.75%.

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.