First City Capital Management Inc. Has $559,000 Stock Position in Citigroup Inc. (NYSE:C)

First City Capital Management Inc. increased its stake in shares of Citigroup Inc. (NYSE:C) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,808 shares of the company’s stock after purchasing an additional 1,840 shares during the period. First City Capital Management Inc.’s holdings in Citigroup were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the period. Bank of New York Mellon Corp grew its position in shares of Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Swedbank AB bought a new stake in Citigroup during the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC raised its holdings in Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the period. Finally, Caxton Associates LP lifted its stake in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $62.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market cap of $118.53 billion, a P/E ratio of 17.41, a PEG ratio of 0.62 and a beta of 1.45. The stock has a 50 day simple moving average of $61.30 and a 200 day simple moving average of $61.46. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping 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 business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the company earned $1.37 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

C has been the topic of several research reports. Argus boosted 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. BMO Capital Markets upped their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley boosted 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. Royal Bank of Canada lifted their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.25.

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.