Ranch Capital Advisors Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Ranch Capital Advisors Inc. increased its stake in Citigroup Inc. (NYSE:C) by 46.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,807 shares of the company’s stock after acquiring an additional 7,195 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Citigroup were worth $1,447,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. DCF Advisers LLC grew its holdings in shares of Citigroup by 93.1% during the second quarter. DCF Advisers LLC now owns 14,000 shares of the company’s stock worth $888,000 after buying an additional 6,750 shares in the last quarter. King Luther Capital Management Corp grew its stake in Citigroup by 46.0% during the 2nd quarter. King Luther Capital Management Corp now owns 110,442 shares of the company’s stock valued at $7,009,000 after acquiring an additional 34,809 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Citigroup by 15.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,738,454 shares of the company’s stock valued at $173,782,000 after acquiring an additional 365,140 shares in the last quarter. Ieq Capital LLC raised its holdings in Citigroup by 20.9% in the 2nd quarter. Ieq Capital LLC now owns 59,332 shares of the company’s stock valued at $3,765,000 after acquiring an additional 10,239 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Citigroup by 2.9% in the 2nd quarter. Intech Investment Management LLC now owns 104,407 shares of the company’s stock worth $6,626,000 after purchasing an additional 2,896 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the subject of several recent analyst reports. Argus raised their price objective on shares of 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 lifted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley upped their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Trading Up 5.2 %

Shares of Citigroup stock opened at $63.02 on Friday. The company’s fifty day moving average is $61.40 and its two-hundred day moving average is $61.41. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. 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 company has a market capitalization of $120.21 billion, a P/E ratio of 17.65, a PEG ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings results 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 business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Citigroup Company 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.