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

Stablepoint Partners LLC raised its stake in Citigroup Inc. (NYSE:C) by 10.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,877 shares of the company’s stock after buying an additional 628 shares during the period. Stablepoint Partners LLC’s holdings in Citigroup were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of C. POM Investment Strategies LLC acquired a new stake in shares of Citigroup during the second quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the 2nd quarter valued at $31,000. Triad Wealth Partners LLC acquired a new position in Citigroup in the 2nd quarter worth $32,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Citigroup by 93.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after buying an additional 276 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $66.01 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $125.91 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 0.74 and a beta of 1.44. The firm’s fifty day moving average price is $60.85 and its two-hundred day moving average price is $61.90. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the previous year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.39%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on C. Argus boosted 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. BMO Capital Markets raised their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Oppenheimer upped their price target on shares of Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. 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. Finally, Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One equities research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

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.