Griffin Asset Management Inc. Raises Stake in Citigroup Inc. (NYSE:C)

Griffin Asset Management Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,461 shares of the company’s stock after acquiring an additional 962 shares during the period. Griffin Asset Management Inc.’s holdings in Citigroup were worth $1,656,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lloyd Advisory Services LLC. increased its stake in Citigroup by 355.9% during the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after purchasing an additional 14,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares in the last quarter. Lazard Asset Management LLC increased its stake in Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares in the last quarter. BDF Gestion bought a new stake in Citigroup during the 2nd quarter valued at about $3,861,000. Finally, New Mexico Educational Retirement Board increased its stake in Citigroup by 13.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock valued at $7,300,000 after purchasing an additional 14,100 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 5.1 %

Shares of C opened at $62.64 on Wednesday. The company’s fifty day moving average is $60.97 and its 200 day moving average is $61.90. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The stock has a market capitalization of $119.48 billion, a PE ratio of 17.55, a P/E/G ratio of 0.74 and a beta of 1.44. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts expect that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley lifted their price target on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.