Silverlake Wealth Management LLC Has $450,000 Stake in Citigroup Inc. (NYSE:C)

Silverlake Wealth Management LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,192 shares of the company’s stock after buying an additional 179 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Citigroup were worth $450,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB acquired a new stake in shares of Citigroup in the first quarter valued at about $253,286,000. Acadian Asset Management LLC grew its position in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the last quarter. Caxton Associates LP grew its position in shares of Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Citigroup by 873.6% in the first quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after purchasing an additional 1,919,170 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE:C opened at $65.74 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The firm has a 50 day moving average of $60.66 and a 200-day moving average of $61.89. 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 market capitalization of $125.42 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last posted its earnings results 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 net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.41%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 62.75%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Morgan Stanley increased their target price on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

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.