Magnolia Capital Advisors LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Magnolia Capital Advisors LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 47,762 shares of the company’s stock, valued at approximately $3,031,000.

A number of other large investors have also added to or reduced their stakes in the business. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter valued at approximately $25,000. Beacon Capital Management LLC increased its position in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the second quarter worth $32,000. Capital Advisors Ltd. LLC boosted its position in shares of Citigroup by 93.2% in the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after acquiring an additional 276 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Citigroup by 48.6% in the second quarter. GPS Wealth Strategies Group LLC now owns 581 shares of the company’s stock valued at $37,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective 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. Morgan Stanley increased their price target on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets lifted 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. Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

Citigroup Stock Up 0.3 %

Shares of NYSE:C opened at $61.87 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. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a market capitalization of $118.01 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a fifty day moving average of $60.85 and a 200-day moving average of $61.67.

Citigroup (NYSE:C) last posted its 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 for the quarter, compared to the consensus estimate of $20.07 billion. During the same period last year, the company earned $1.37 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.62%. 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.