Citigroup Inc. (NYSE:C) Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lifted its position in Citigroup Inc. (NYSE:C) by 16.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,950 shares of the company’s stock after buying an additional 1,507 shares during the period. HBK Sorce Advisory LLC’s holdings in Citigroup were worth $695,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after acquiring an additional 1,836,283 shares during the last quarter. Putnam Investments LLC raised its position in shares of Citigroup by 7.9% during the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after purchasing an additional 1,300,520 shares during the period. Finally, Norges Bank purchased a new stake in shares of Citigroup during the fourth quarter valued at $867,599,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.6 %

C opened at $57.67 on Friday. The company has a market capitalization of $110.02 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The business has a 50-day moving average of $61.81 and a 200-day moving average of $61.33.

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. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.88%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on C shares. BMO Capital Markets lifted their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. 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. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Argus boosted their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley raised their target price on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.