Peregrine Asset Advisers Inc. Buys Shares of 3,586 Citigroup Inc. (NYSE:C)

Peregrine Asset Advisers Inc. purchased a new position in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,586 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC bought a new stake in Citigroup in the second quarter worth $25,000. Frazier Financial Advisors LLC purchased a new position in shares of Citigroup in the 4th quarter worth about $29,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter valued at about $32,000. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

C has been the topic of several analyst reports. Evercore ISI upped their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Argus boosted their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on 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 lifted their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Trading Up 1.2 %

Citigroup stock opened at $58.39 on Tuesday. The stock has a market cap of $111.38 billion, a P/E ratio of 16.36, a PEG ratio of 0.62 and a beta of 1.45. The firm’s 50 day moving average price is $61.68 and its 200-day moving average price is $61.40. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick 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 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 business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. On average, equities analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.84%. 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.