Waycross Partners LLC Acquires 18,988 Shares of Citigroup Inc. (NYSE:C)

Waycross Partners LLC lifted its stake in Citigroup Inc. (NYSE:C) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,931 shares of the company’s stock after buying an additional 18,988 shares during the period. Citigroup makes up approximately 1.7% of Waycross Partners LLC’s investment portfolio, making the stock its 27th biggest position. Waycross Partners LLC’s holdings in Citigroup were worth $11,292,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MONECO Advisors LLC raised its holdings in Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Citigroup by 4.0% in 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 boosted 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 purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares in the last quarter. Finally, Gries Financial LLC raised its stake in shares of Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Oppenheimer lifted their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research 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 stock a “market perform” rating in a research note on Thursday, June 20th. The Goldman Sachs Group cut their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Price Performance

NYSE C opened at $57.67 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market cap of $110.00 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The firm’s 50-day simple moving average is $61.81 and its two-hundred day simple moving average is $61.38.

Citigroup (NYSE:C) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 earnings per share. Research analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio is currently 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.