Ballentine Partners LLC Increases Stake in Citigroup Inc. (NYSE:C)

Ballentine Partners LLC grew its position in Citigroup Inc. (NYSE:C) by 21.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,068 shares of the company’s stock after acquiring an additional 2,680 shares during the quarter. Ballentine Partners LLC’s holdings in Citigroup were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in C. POM Investment Strategies LLC purchased a new stake in shares of Citigroup in the second quarter valued at $25,000. Frazier Financial Advisors LLC bought a new stake in Citigroup during the 4th quarter valued at about $29,000. Beacon Capital Management LLC lifted its holdings in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings 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 buying an additional 569 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on C shares. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Evercore ISI boosted their price target 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 boosted their price target on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $68.06.

Citigroup Stock Up 0.8 %

Shares of Citigroup stock opened at $59.54 on Tuesday. The firm’s 50 day moving average price is $62.36 and its 200-day moving average price is $61.32. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a market cap of $113.59 billion, a P/E ratio of 16.68, a PEG ratio of 0.64 and a beta of 1.45.

Citigroup (NYSE:C) last released its 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 company 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%. Citigroup’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 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.