Wellington Shields Capital Management LLC Purchases 2,100 Shares of Citigroup Inc. (NYSE:C)

Wellington Shields Capital Management LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,733 shares of the company’s stock after purchasing an additional 2,100 shares during the period. Wellington Shields Capital Management LLC’s holdings in Citigroup were worth $2,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Citigroup during the 4th quarter worth approximately $4,100,000. Lincoln National Corp grew its holdings in shares of Citigroup by 8.0% during the fourth quarter. Lincoln National Corp now owns 14,313 shares of the company’s stock valued at $736,000 after buying an additional 1,062 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Citigroup by 26.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,396 shares of the company’s stock valued at $329,000 after acquiring an additional 1,319 shares during the period. Gryphon Financial Partners LLC raised its stake in Citigroup by 215.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after acquiring an additional 10,632 shares during the last quarter. Finally, Catalyst Financial Partners LLC acquired a new stake in Citigroup during the 4th quarter worth about $215,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Piper Sandler increased 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. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Evercore ISI upped their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Citigroup Price Performance

Shares of NYSE:C traded up $0.33 during midday trading on Friday, reaching $60.96. 533,854 shares of the company’s stock traded hands, compared to its average volume of 14,511,015. The company has a market cap of $116.28 billion, a P/E ratio of 17.05, a PEG ratio of 0.68 and a beta of 1.45. The company has a fifty day simple moving average of $62.52 and a two-hundred day simple moving average of $61.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for 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 company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.37 earnings per share. Equities analysts predict that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

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 issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.67%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is presently 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.