First City Capital Management Inc. Has $559,000 Holdings in Citigroup Inc. (NYSE:C)

First City Capital Management Inc. grew its holdings in shares of Citigroup Inc. (NYSE:C) by 26.4% in the 2nd quarter, Holdings Channel reports. The fund owned 8,808 shares of the company’s stock after buying an additional 1,840 shares during the period. First City Capital Management Inc.’s holdings in Citigroup were worth $559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in C. POM Investment Strategies LLC acquired a new position in Citigroup in the 2nd quarter worth about $25,000. Beacon Capital Management LLC increased its stake in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after buying an additional 569 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Citigroup during the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC grew its holdings in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after acquiring an additional 48,484 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on C shares. BMO Capital Markets boosted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

Citigroup Price Performance

Shares of NYSE C opened at $62.14 on Friday. The stock has a market cap of $118.53 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.62 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The firm’s 50-day simple moving average is $61.30 and its 200 day simple moving average is $61.46.

Citigroup (NYSE:C) last announced its 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 company 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%. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) 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.