Raymond James Financial Services Advisors Inc. Purchases 1,719 Shares of Citigroup Inc. (NYSE:C)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 0.3% in the 2nd quarter, Holdings Channel reports. The fund owned 566,681 shares of the company’s stock after buying an additional 1,719 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Citigroup were worth $35,962,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its position in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter worth approximately $26,000. Triad Wealth Partners LLC purchased a new stake in Citigroup in the second quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Citigroup during the fourth quarter valued at approximately $29,000. Finally, GPS Wealth Strategies Group LLC grew its stake in Citigroup by 48.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 581 shares of the company’s stock worth $37,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of several research reports. Oppenheimer raised their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Piper Sandler lifted their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets raised their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Royal Bank of Canada boosted their target price on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Morgan Stanley lifted their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Price Performance

Shares of C opened at $61.65 on Tuesday. The firm’s 50-day simple moving average is $62.27 and its two-hundred day simple moving average is $60.62. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The stock has a market cap of $117.59 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 62.75%.

Citigroup 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.