Fairscale Capital LLC Invests $63,000 in Citigroup Inc. (NYSE:C)

Fairscale Capital LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 937 shares of the company’s stock, valued at approximately $63,000.

Several other hedge funds have also added to or reduced their stakes in C. TD Asset Management Inc grew its position in shares of Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after buying an additional 173,137 shares during the last quarter. Lloyd Advisory Services LLC. increased its position in Citigroup by 355.9% during the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after purchasing an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC raised its holdings in Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Citigroup by 9.1% in the 4th quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock worth $215,398,000 after purchasing an additional 350,087 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Argus lifted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Oppenheimer boosted their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley raised their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

Citigroup Stock Down 1.4 %

Shares of NYSE C opened at $62.14 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day moving average price of $61.30 and a 200-day moving average price of $61.50. The stock has a market capitalization of $118.53 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

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

Citigroup Increases Dividend

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