Easterly Investment Partners LLC Has $13.57 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Easterly Investment Partners LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,847 shares of the company’s stock after selling 10,766 shares during the quarter. Citigroup accounts for 1.2% of Easterly Investment Partners LLC’s holdings, making the stock its 18th biggest position. Easterly Investment Partners LLC’s holdings in Citigroup were worth $13,571,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of C. POM Investment Strategies LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at approximately $25,000. Beacon Capital Management LLC raised its stake in 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 acquiring an additional 212 shares during the period. Orion Capital Management LLC bought a new stake in Citigroup in the 4th quarter valued at $26,000. Triad Wealth Partners LLC bought a new stake in Citigroup in the 2nd quarter valued at $32,000. Finally, Frazier Financial Advisors LLC bought a new stake in Citigroup in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley lifted their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Oppenheimer lifted their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One 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. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Stock Up 2.8 %

Shares of NYSE:C traded up $1.72 during mid-day trading on Friday, hitting $62.14. 13,299,722 shares of the company traded hands, compared to its average volume of 14,839,771. The stock has a market cap of $118.53 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The stock has a 50-day moving average price of $62.38 and a two-hundred day moving average price of $60.76.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 earnings per share. On average, equities research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Increases Dividend

The firm 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 of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.60%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

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.