Citigroup Inc. (NYSE:C) Stake Lifted by Great Lakes Advisors LLC

Great Lakes Advisors LLC increased its stake in shares of Citigroup Inc. (NYSE:C) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 994,436 shares of the company’s stock after buying an additional 96,282 shares during the quarter. Great Lakes Advisors LLC’s holdings in Citigroup were worth $63,107,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lincoln National Corp boosted its position in Citigroup by 8.0% during the 4th quarter. Lincoln National Corp now owns 14,313 shares of the company’s stock worth $736,000 after acquiring an additional 1,062 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Citigroup by 26.0% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,396 shares of the company’s stock worth $329,000 after acquiring an additional 1,319 shares during the period. Gryphon Financial Partners LLC boosted its position in Citigroup by 215.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after acquiring an additional 10,632 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $226,000. Finally, Principal Securities Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at $1,318,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE:C traded down $1.54 during mid-day trading on Friday, hitting $59.09. 14,093,986 shares of the company’s stock traded hands, compared to its average volume of 14,589,779. The firm has a 50 day moving average of $62.44 and a two-hundred day moving average of $61.21. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The firm has a market capitalization of $112.71 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

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

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.79%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada upped their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Evercore ISI upped their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods upped their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.