Citigroup Inc. (NYSE:C) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 82.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,001 shares of the company’s stock after acquiring an additional 12,671 shares during the quarter. Parallel Advisors LLC’s holdings in Citigroup were worth $1,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of C. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Putnam Investments LLC grew its stake in Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after acquiring an additional 1,300,520 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Citigroup during the 4th quarter worth approximately $867,599,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.6 %

NYSE C opened at $57.67 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50-day simple moving average of $61.81 and a 200-day simple moving average of $61.38. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The firm has a market capitalization of $110.00 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Analysts Set New Price Targets

A number of analysts recently commented on C shares. Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised 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. 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 research report on Thursday, July 11th. Finally, Argus boosted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One investment 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. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

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.