Frank Rimerman Advisors LLC Has $786,000 Stake in Citigroup Inc. (NYSE:C)

Frank Rimerman Advisors LLC grew its stake in Citigroup Inc. (NYSE:C) by 2,621.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,382 shares of the company’s stock after purchasing an additional 11,927 shares during the period. Frank Rimerman Advisors LLC’s holdings in Citigroup were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in C. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 123.5% in the 1st 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 buying an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Citigroup by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after purchasing an additional 4,620,867 shares during the last quarter. Swedbank AB bought a new stake in shares of Citigroup in the first quarter worth $253,286,000. Acadian Asset Management LLC raised its position 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 purchasing an additional 2,100,135 shares during the last quarter. Finally, Caxton Associates LP raised its position in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $62.58 on Tuesday. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The firm has a market capitalization of $119.37 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The firm has a fifty day simple moving average of $61.30 and a two-hundred day simple moving average of $61.53. 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 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. 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 given a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is presently 62.75%.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. 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. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets lifted 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company 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.