B. Riley Wealth Advisors Inc. Has $3.42 Million Stock Holdings in Citigroup Inc. (NYSE:C)

B. Riley Wealth Advisors Inc. reduced its stake in Citigroup Inc. (NYSE:C) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,926 shares of the company’s stock after selling 6,585 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Citigroup were worth $3,422,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB bought a new stake in Citigroup during the first quarter valued at $253,286,000. Acadian Asset Management LLC boosted its position in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the last quarter. Caxton Associates LP grew its holdings 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 acquiring an additional 1,988,494 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock worth $135,262,000 after acquiring an additional 1,919,170 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 1.2 %

Shares of Citigroup stock opened at $62.61 on Tuesday. The company has a market capitalization of $119.42 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The stock has a fifty day simple moving average of $60.82 and a 200 day simple moving average of $61.71. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. 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 posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) 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 firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.79 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 given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.58%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on C shares. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group reduced 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. 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 research note on Monday, June 17th. Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given 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 an average target price of $68.69.

Citigroup Company 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.