Intech Investment Management LLC Acquires 15,078 Shares of Citigroup Inc. (NYSE:C)

Intech Investment Management LLC boosted its position in Citigroup Inc. (NYSE:C) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,511 shares of the company’s stock after purchasing an additional 15,078 shares during the quarter. Intech Investment Management LLC’s holdings in Citigroup were worth $6,420,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $26,000. Frazier Financial Advisors LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $29,000. Beaird Harris Wealth Management LLC lifted its position in shares of Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Rakuten Securities Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Citigroup during the 4th quarter worth $39,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Citigroup from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Piper Sandler upped their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. Jefferies Financial Group upped their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Evercore ISI upped their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Citigroup Trading Up 0.4 %

Shares of Citigroup stock traded up $0.25 on Friday, hitting $65.14. 8,583,112 shares of the company’s stock traded hands, compared to its average volume of 14,301,064. 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 current ratio of 0.94 and a quick ratio of 0.95. The company has a fifty day moving average of $63.00 and a two-hundred day moving average of $59.44. The company has a market capitalization of $124.25 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46.

Citigroup (NYSE:C) last announced its quarterly 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 business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.44%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 62.75%.

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.