Strategic Wealth Partners Ltd. Buys 2,783 Shares of Citigroup Inc. (NYSE:C)

Strategic Wealth Partners Ltd. increased its holdings in shares of Citigroup Inc. (NYSE:C) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,040 shares of the company’s stock after acquiring an additional 2,783 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Citigroup were worth $4,259,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Brookstone Capital Management boosted its position in shares of Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock valued at $512,000 after acquiring an additional 2,274 shares in the last quarter. Bridge Creek Capital Management LLC boosted its position in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares in the last quarter. Chesley Taft & Associates LLC boosted its position in shares of Citigroup by 329.9% during the 3rd quarter. Chesley Taft & Associates LLC now owns 49,781 shares of the company’s stock valued at $3,116,000 after acquiring an additional 38,202 shares in the last quarter. Eastover Investment Advisors LLC boosted its position in shares of Citigroup by 4.3% during the 3rd quarter. Eastover Investment Advisors LLC now owns 103,103 shares of the company’s stock valued at $6,454,000 after acquiring an additional 4,274 shares in the last quarter. Finally, Aprio Wealth Management LLC acquired a new position in Citigroup in the third quarter valued at about $205,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on C. Argus boosted their price target 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. Evercore ISI boosted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Morgan Stanley upped their target price on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Citigroup Stock Up 1.0 %

Shares of NYSE:C opened at $63.24 on Wednesday. The company has a market capitalization of $120.63 billion, a PE ratio of 17.71, a PEG ratio of 0.69 and a beta of 1.44. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average price of $60.53 and a two-hundred day moving average price of $61.83.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Analysts forecast that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced 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. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup’s dividend payout ratio is presently 62.75%.

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.