Pacer Advisors Inc. Purchases 7,058 Shares of Citigroup Inc. (NYSE:C)

Pacer Advisors Inc. lifted its position in Citigroup Inc. (NYSE:C) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,821 shares of the company’s stock after buying an additional 7,058 shares during the period. Pacer Advisors Inc.’s holdings in Citigroup were worth $8,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position 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 purchasing an additional 17,525,484 shares during the period. Bank of New York Mellon Corp lifted its position in Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the period. Fisher Asset Management LLC lifted its position in Citigroup by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the period. Putnam Investments LLC lifted its position in Citigroup by 7.9% during the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after purchasing an additional 1,300,520 shares during the period. Finally, Greenhaven Associates Inc. lifted its position in Citigroup by 2.1% during 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 period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE C opened at $62.58 on Tuesday. 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 cap of $119.37 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.62 and a beta of 1.45. The firm’s fifty day moving average is $61.30 and its two-hundred day moving average is $61.53. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. As a group, analysts anticipate that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Analyst Ratings Changes

C has been the topic of a number of research analyst reports. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. BMO Capital Markets upped their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Oppenheimer upped their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.