Citigroup Inc. (NYSE:C) Stock Position Increased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 262.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,586 shares of the company’s stock after acquiring an additional 4,770 shares during the period. Prestige Wealth Management Group LLC’s holdings in Citigroup were worth $418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in C. Price T Rowe Associates Inc. MD boosted its holdings in shares of Citigroup by 123.5% in 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. Norges Bank purchased a new stake in shares of Citigroup in the 4th quarter valued at approximately $867,599,000. Bank of New York Mellon Corp boosted its stake in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Swedbank AB purchased a new position in Citigroup during the 1st quarter worth approximately $253,286,000. Finally, Acadian Asset Management LLC raised its position in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after buying an additional 2,100,135 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the subject of a number of research analyst reports. Argus increased 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. Morgan Stanley lifted their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Oppenheimer increased their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Trading Down 2.5 %

C traded down $1.54 during midday trading on Friday, reaching $59.09. 14,093,986 shares of the company were exchanged, compared to its average volume of 14,589,779. The stock has a market capitalization of $112.71 billion, a P/E ratio of 16.55, a PEG ratio of 0.68 and a beta of 1.45. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The stock’s 50-day simple moving average is $62.44 and its 200 day simple moving average is $61.25. 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 (NYSE:C) last posted 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. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 5.82 earnings per share 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 issued a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is 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.