Blue Trust Inc. Increases Position in Citigroup Inc. (NYSE:C)

Blue Trust Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 240.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,275 shares of the company’s stock after purchasing an additional 5,139 shares during the period. Blue Trust Inc.’s holdings in Citigroup were worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Citigroup in the 4th quarter valued at $4,100,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Citigroup in the 4th quarter valued at about $39,000. Flputnam Investment Management Co. boosted its position in shares of Citigroup by 5.4% in the 4th quarter. Flputnam Investment Management Co. now owns 8,370 shares of the company’s stock valued at $431,000 after purchasing an additional 431 shares during the period. SVB Wealth LLC grew its stake in Citigroup by 11.9% during the 4th quarter. SVB Wealth LLC now owns 33,003 shares of the company’s stock worth $1,698,000 after buying an additional 3,512 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new stake in Citigroup in the fourth quarter valued at approximately $213,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on C. Oppenheimer increased their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. 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 report on Monday, June 17th. Finally, Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Trading Up 1.5 %

Shares of C traded up $0.88 during trading hours on Friday, hitting $61.40. The stock had a trading volume of 9,939,926 shares, compared to its average volume of 14,974,501. The company’s fifty day simple moving average is $62.25 and its 200 day simple moving average is $60.52. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The firm has a market cap of $117.12 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.68 and a beta of 1.46.

Citigroup (NYSE:C) last posted its 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 business had revenue of $20.14 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS. Equities research analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.65%. Citigroup’s dividend payout ratio is 62.75%.

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.