Gordian Capital Singapore Pte Ltd purchased a new position in shares of Citigroup Inc. (NYSE:C – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,827 shares of the company’s stock, valued at approximately $370,000.
A number of other hedge funds have also bought and sold shares of C. Brown Brothers Harriman & Co. grew its stake in Citigroup by 72.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,062 shares of the company’s stock worth $106,000 after buying an additional 865 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Citigroup during the fourth quarter worth about $671,000. The Manufacturers Life Insurance Company grew its stake in Citigroup by 6.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,522,315 shares of the company’s stock worth $129,748,000 after buying an additional 152,089 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Citigroup by 11.6% during the fourth quarter. CWA Asset Management Group LLC now owns 15,529 shares of the company’s stock worth $799,000 after buying an additional 1,614 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its stake in Citigroup by 7.4% during the fourth quarter. Belpointe Asset Management LLC now owns 30,678 shares of the company’s stock worth $1,578,000 after buying an additional 2,125 shares in the last quarter. 71.72% of the stock is owned by institutional investors.
Citigroup Trading Down 1.2 %
Shares of C opened at $61.83 on Wednesday. The business’s 50-day moving average price is $60.76 and its 200-day moving average price is $61.74. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market cap of $117.94 billion, a PE ratio of 17.32, a P/E/G ratio of 0.69 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.
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 paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.62%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 62.75%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on C. Morgan Stanley raised their price target on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Argus raised their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada raised their price target 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. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.69.
View Our Latest Research Report on C
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.
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