Mercer Global Advisors Inc. ADV Acquires 39,725 Shares of Citigroup Inc. (NYSE:C)

Mercer Global Advisors Inc. ADV raised its holdings in shares of Citigroup Inc. (NYSE:C) by 20.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,117 shares of the company’s stock after acquiring an additional 39,725 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Citigroup were worth $14,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Bank of New York Mellon Corp increased its stake in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after buying an additional 4,620,867 shares in the last quarter. Swedbank AB bought a new stake in Citigroup during the first quarter valued at about $253,286,000. Acadian Asset Management LLC lifted its position in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares in the last quarter. Finally, Caxton Associates LP boosted its stake in shares of Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Oppenheimer lifted their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, BMO Capital Markets raised their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.25.

Citigroup Price Performance

C stock opened at $63.02 on Friday. The stock has a market cap of $120.21 billion, a PE ratio of 17.65, a P/E/G ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a 50-day moving average price of $61.40 and a 200 day moving average price of $61.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) 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.