Denver PWM LLC Buys New Position in Citigroup Inc. (NYSE:C)

Denver PWM LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,029 shares of the company’s stock, valued at approximately $129,000.

A number of other hedge funds and other institutional investors have also modified their holdings of C. International Assets Investment Management LLC purchased a new stake in Citigroup during the 4th quarter worth $4,100,000. Lincoln National Corp grew its stake in shares of Citigroup by 8.0% in the fourth quarter. Lincoln National Corp now owns 14,313 shares of the company’s stock valued at $736,000 after buying an additional 1,062 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of 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 valued at $329,000 after buying an additional 1,319 shares during the period. Gryphon Financial Partners LLC lifted 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 in the last quarter. Finally, Catalyst Financial Partners LLC purchased a new position in Citigroup in the 4th quarter worth approximately $215,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock opened at $60.62 on Friday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $115.63 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The firm’s 50-day simple moving average is $62.52 and its 200-day simple moving average is $61.18.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 company had revenue of $20.14 billion during 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%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $1.37 earnings per share. As a group, research analysts expect that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio is presently 62.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on C. 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. Evercore ISI upped their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.