NewEdge Advisors LLC Has $8.07 Million Position in Citigroup Inc. (NYSE:C)

NewEdge Advisors LLC grew its holdings in Citigroup Inc. (NYSE:C) by 58.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,121 shares of the company’s stock after purchasing an additional 46,890 shares during the period. NewEdge Advisors LLC’s holdings in Citigroup were worth $8,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its position in Citigroup by 72.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,062 shares of the company’s stock worth $106,000 after buying an additional 865 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Citigroup during the fourth quarter worth $671,000. The Manufacturers Life Insurance Company boosted its position in Citigroup by 6.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,522,315 shares of the company’s stock valued at $129,748,000 after purchasing an additional 152,089 shares during the last quarter. CWA Asset Management Group LLC grew its stake in Citigroup by 11.6% in the fourth quarter. CWA Asset Management Group LLC now owns 15,529 shares of the company’s stock valued at $799,000 after purchasing an additional 1,614 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in Citigroup by 34.8% in the 4th quarter. NEOS Investment Management LLC now owns 27,129 shares of the company’s stock worth $1,396,000 after purchasing an additional 7,011 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 1.2 %

Shares of C stock opened at $62.61 on Tuesday. The firm has a market capitalization of $119.42 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The firm’s fifty day simple moving average is $60.82 and its 200 day simple moving average is $61.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on C shares. Morgan Stanley boosted their price target on Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group cut their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Argus raised their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.69.

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.