Chesley Taft & Associates LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Chesley Taft & Associates LLC increased its stake in shares of Citigroup Inc. (NYSE:C) by 329.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,781 shares of the company’s stock after purchasing an additional 38,202 shares during the period. Chesley Taft & Associates LLC’s holdings in Citigroup were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MONECO Advisors LLC grew its stake in shares of Citigroup by 2.9% during the 2nd 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. increased its position in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased 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 purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC increased 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 purchasing an additional 176 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on C shares. Morgan Stanley increased their target price on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Oppenheimer increased their target price on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. 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 increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.06.

Citigroup Stock Down 0.1 %

Shares of NYSE C opened at $62.60 on Tuesday. The stock has a market capitalization of $119.41 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 0.69 and a beta of 1.44. The firm’s 50-day moving average price is $60.58 and its 200-day moving average price is $61.81. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. 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 posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

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

Citigroup 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.