Prospector Partners LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Prospector Partners LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 264,265 shares of the company’s stock after buying an additional 2,110 shares during the quarter. Citigroup comprises approximately 1.9% of Prospector Partners LLC’s portfolio, making the stock its 19th biggest position. Prospector Partners LLC’s holdings in Citigroup were worth $16,770,000 at the end of the most recent quarter.

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

Citigroup Trading Down 1.4 %

Shares of NYSE:C opened at $62.14 on Friday. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The stock has a market capitalization 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. The stock’s 50-day simple moving average is $61.30 and its two-hundred 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. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the business posted $1.37 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business 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. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised 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. Oppenheimer boosted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Morgan Stanley increased their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price 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.