Ieq Capital LLC Grows Position in Citigroup Inc. (NYSE:C)

Ieq Capital LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 20.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,332 shares of the company’s stock after acquiring an additional 10,239 shares during the period. Ieq Capital LLC’s holdings in Citigroup were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. Price T Rowe Associates Inc. MD increased its stake 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 worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Citigroup by 0.8% during the 2nd 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 last quarter. Fisher Asset Management LLC raised its holdings in Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after buying an additional 1,836,283 shares during the period. Putnam Investments LLC lifted its position in Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after buying an additional 1,300,520 shares during the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in Citigroup by 2.1% during the second quarter. Greenhaven Associates Inc. now owns 16,640,846 shares of the company’s stock worth $1,056,028,000 after buying an additional 349,086 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C opened at $62.11 on Friday. 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 50 day moving average price of $61.30 and a 200-day moving average price of $61.46. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The stock has a market capitalization of $118.47 billion, a PE ratio of 17.40, a PEG ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. Equities analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. 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 3.61%. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on C shares. Evercore ISI raised their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley upped their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.25.

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.