Wallace Advisory Group LLC Acquires 1,756 Shares of Citigroup Inc. (NYSE:C)

Wallace Advisory Group LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 34.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,799 shares of the company’s stock after purchasing an additional 1,756 shares during the period. Wallace Advisory Group LLC’s holdings in Citigroup were worth $431,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Oppenheimer raised their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Piper Sandler boosted 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. BMO Capital Markets upped their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Price Performance

NYSE:C opened at $61.87 on Monday. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The stock has a fifty day moving average of $60.85 and a 200 day moving average of $61.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $118.01 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 0.69 and a beta of 1.45.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter last year, the company posted $1.37 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 dividend yield of 3.62%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 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.