Slagle Financial LLC Raises Stake in Citigroup Inc. (NYSE:C)

Slagle Financial LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,992 shares of the company’s stock after acquiring an additional 1,444 shares during the period. Slagle Financial LLC’s holdings in Citigroup were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the first 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 last quarter. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth approximately $26,000. Triad Wealth Partners LLC bought a new position in Citigroup in the 2nd quarter valued at approximately $32,000. Frazier Financial Advisors LLC purchased a new stake in Citigroup during the 4th quarter valued at $29,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in Citigroup by 48.6% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 581 shares of the company’s stock valued at $37,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE:C traded up $1.72 during midday trading on Friday, hitting $62.14. The company had a trading volume of 12,750,646 shares, compared to its average volume of 14,839,771. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a fifty day moving average of $62.32 and a two-hundred day moving average of $60.66. The company has a market cap of $118.53 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the business posted $1.37 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on C shares. Royal Bank of Canada boosted their price target on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. 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. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

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.