Summit Trail Advisors LLC Grows Stake in Citigroup Inc. (NYSE:C)

Summit Trail Advisors LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 95.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,061 shares of the company’s stock after purchasing an additional 17,121 shares during the period. Summit Trail Advisors LLC’s holdings in Citigroup were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 123.5% during the first 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 buying an additional 17,525,484 shares during the period. Bank of New York Mellon Corp raised its position in shares of Citigroup by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after purchasing an additional 1,300,520 shares during the last quarter. Finally, Greenhaven Associates Inc. grew its stake in Citigroup by 2.1% in the second quarter. Greenhaven Associates Inc. now owns 16,640,846 shares of the company’s stock valued at $1,056,028,000 after purchasing an additional 349,086 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

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 business’s 50 day moving average price is $61.30 and its 200 day moving average price is $61.46. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a market cap of $118.53 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 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 business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on C shares. Evercore ISI raised their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Argus upped their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley increased their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. 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 stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $68.25.

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.