Miracle Mile Advisors LLC Has $2.10 Million Stock Position in Citigroup Inc. (NYSE:C)

Miracle Mile Advisors LLC trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,530 shares of the company’s stock after selling 1,135 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Citigroup were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Citigroup by 123.5% in 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 acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 0.8% in 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 acquiring an additional 250,716 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Citigroup by 8.0% in 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 acquiring an additional 1,836,283 shares during the last quarter. Putnam Investments LLC raised its stake in shares of Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after acquiring an additional 1,300,520 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer boosted their price objective on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler boosted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Citigroup Price Performance

C opened at $62.60 on Tuesday. The company has a fifty day moving average price of $60.61 and a two-hundred day moving average price of $61.80. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The firm has a market capitalization of $119.41 billion, a PE ratio of 17.54, a P/E/G ratio of 0.69 and a beta of 1.44.

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 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 quarter in the previous year, the business earned $1.37 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

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