Bright Futures Wealth Management LLC. bought a new stake in shares of Citigroup Inc. (NYSE:C – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,076 shares of the company’s stock, valued at approximately $374,000.
A number of other institutional investors also recently made changes to their positions in C. Price T Rowe Associates Inc. MD increased its stake in Citigroup by 123.5% in the first 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. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after acquiring an additional 4,620,867 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after acquiring an additional 1,836,283 shares during the period. Putnam Investments LLC boosted its position in shares of Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after acquiring an additional 1,300,520 shares during the last quarter. Finally, Norges Bank purchased a new stake in Citigroup in the fourth quarter valued at approximately $867,599,000. 71.72% of the stock is owned by institutional investors and hedge funds.
Citigroup Price Performance
Shares of C traded down $4.52 during mid-day trading on Friday, hitting $58.76. The company’s stock had a trading volume of 30,289,346 shares, compared to its average volume of 13,975,021. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. The stock has a market capitalization of $112.08 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.68 and a beta of 1.46. The firm has a 50-day moving average price of $63.03 and a 200 day moving average price of $60.20.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s payout ratio is presently 59.38%.
Analysts Set New Price Targets
A number of research firms have recently commented on C. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Piper Sandler increased their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer upped their price target on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Evercore ISI upped their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.06.
Check Out Our Latest Stock Analysis on C
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.
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