Legacy Financial Advisors Inc. Buys 182 Shares of Citigroup Inc. (NYSE:C)

Legacy Financial Advisors Inc. lifted its stake in Citigroup Inc. (NYSE:C) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,089 shares of the company’s stock after acquiring an additional 182 shares during the period. Legacy Financial Advisors Inc.’s holdings in Citigroup were worth $259,000 at the end of the most recent quarter.

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

Citigroup Price Performance

Citigroup stock opened at $62.14 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The firm has a market cap of $118.53 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The company’s 50 day moving average is $61.30 and its two-hundred day moving average is $61.46.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 business 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%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. On average, research analysts expect that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors 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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.60%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. 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. The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. One equities 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.25.

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.