DRW Securities LLC Buys 10,182 Shares of Citigroup Inc. (NYSE:C)

DRW Securities LLC raised its stake in Citigroup Inc. (NYSE:C) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,276 shares of the company’s stock after buying an additional 10,182 shares during the period. DRW Securities LLC’s holdings in Citigroup were worth $6,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. MONECO Advisors LLC boosted its stake in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its position in shares of Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after acquiring an additional 169 shares in the last quarter. Finally, Gries Financial LLC raised its holdings in Citigroup by 3.0% in the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 1.4 %

NYSE:C opened at $62.14 on Friday. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The business has a fifty day moving average price of $61.30 and a 200-day moving average price of $61.46. The firm has a market capitalization of $118.53 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. 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 (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter last year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared 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 represents a $2.24 annualized dividend and a yield of 3.60%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Finally, Piper Sandler boosted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.