Cetera Advisors LLC Has $15.03 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Cetera Advisors LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 219.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 237,663 shares of the company’s stock after purchasing an additional 163,247 shares during the period. Cetera Advisors LLC’s holdings in Citigroup were worth $15,030,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of Citigroup by 120.6% during the 1st quarter. Cetera Investment Advisers now owns 469,152 shares of the company’s stock worth $29,669,000 after buying an additional 256,527 shares in the last quarter. PGGM Investments lifted its position in shares of Citigroup by 51.2% during the 1st quarter. PGGM Investments now owns 263,873 shares of the company’s stock worth $16,687,000 after buying an additional 89,329 shares in the last quarter. Atria Investments Inc lifted its position in shares of Citigroup by 4.9% during the 1st quarter. Atria Investments Inc now owns 251,385 shares of the company’s stock worth $15,898,000 after buying an additional 11,667 shares in the last quarter. Swedbank AB bought a new position in shares of Citigroup during the 1st quarter worth approximately $253,286,000. Finally, LRI Investments LLC bought a new position in shares of Citigroup during the 1st quarter worth approximately $124,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 7.1 %

C traded down $4.52 on Friday, hitting $58.76. The company had a trading volume of 30,289,346 shares, compared to its average volume of 13,975,021. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The stock has a fifty day simple moving average of $63.03 and a 200-day simple moving average of $60.14. The firm has a market capitalization of $112.08 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

Citigroup (NYSE:C) last announced 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 the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 59.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on C shares. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group lifted their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. BMO Capital Markets lifted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Oppenheimer boosted their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Morgan Stanley increased their target price on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.