Ascent Group LLC Has $2.13 Million Holdings in Citigroup Inc. (NYSE:C)

Ascent Group LLC lifted its position in Citigroup Inc. (NYSE:C) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,704 shares of the company’s stock after buying an additional 3,278 shares during the quarter. Ascent Group LLC’s holdings in Citigroup were worth $2,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. lifted its stake in Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares in the last quarter. NorthRock Partners LLC lifted its stake in Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after acquiring an additional 165 shares in the last quarter. Family Legacy Inc. lifted its stake in Citigroup by 2.9% during the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock valued at $400,000 after acquiring an additional 179 shares in the last quarter. Accel Wealth Management lifted its stake in Citigroup by 3.9% during the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock valued at $311,000 after acquiring an additional 185 shares in the last quarter. Finally, Massachusetts Wealth Management lifted its stake in Citigroup by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after acquiring an additional 192 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on C shares. Piper Sandler lifted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer lifted their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley lifted their target price on Citigroup from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Finally, Evercore ISI lifted 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. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

Citigroup Price Performance

NYSE:C traded down $0.88 during mid-day trading on Monday, reaching $64.30. The stock had a trading volume of 6,794,275 shares, compared to its average volume of 14,832,762. The firm has a 50 day moving average price of $63.08 and a two-hundred day moving average price of $59.95. The stock has a market capitalization of $122.65 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.70 and a beta of 1.46. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. 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 for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, analysts expect that Citigroup Inc. will post 5.84 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.48%. Citigroup’s payout ratio is 59.38%.

About Citigroup

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.