Quest Partners LLC Raises Stake in Citigroup Inc. (NYSE:C)

Quest Partners LLC raised its position in Citigroup Inc. (NYSE:C) by 180,154.5% during the second quarter, HoldingsChannel reports. The firm owned 39,656 shares of the company’s stock after buying an additional 39,634 shares during the quarter. Quest Partners LLC’s holdings in Citigroup were worth $2,517,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Gryphon Financial Partners LLC boosted its stake in Citigroup by 215.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock valued at $800,000 after acquiring an additional 10,632 shares in the last quarter. Wealthspire Advisors LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $226,000. Principal Securities Inc. purchased a new position in Citigroup during the 4th quarter worth approximately $1,318,000. AGF Management Ltd. increased its position in Citigroup by 42.4% during the fourth quarter. AGF Management Ltd. now owns 34,769 shares of the company’s stock worth $1,789,000 after buying an additional 10,360 shares during the period. Finally, Dana Investment Advisors Inc. lifted its stake in Citigroup by 3.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 20,656 shares of the company’s stock valued at $1,063,000 after buying an additional 638 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $59.09 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $62.44 and a 200-day simple moving average of $61.29. The company has a market cap of $112.73 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 5.82 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.79%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on C shares. Argus raised 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. Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley raised their price target on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.06.

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.