First Trust Direct Indexing L.P. Grows Stock Position in Citigroup Inc. (NYSE:C)

First Trust Direct Indexing L.P. boosted its position in Citigroup Inc. (NYSE:C) by 12.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,206 shares of the company’s stock after buying an additional 5,940 shares during the period. First Trust Direct Indexing L.P.’s holdings in Citigroup were worth $3,331,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Citigroup by 13.4% in the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the period. BDF Gestion purchased a new stake in shares of Citigroup during the 2nd quarter worth $3,861,000. Advisory Services Network LLC grew its stake in shares of Citigroup by 23.8% during the 1st quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock worth $4,206,000 after purchasing an additional 12,795 shares during the period. Finally, Chesley Taft & Associates LLC acquired a new position in shares of Citigroup during the 2nd quarter worth $735,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on C. Oppenheimer dropped their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Bank of America increased their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Stock Up 0.4 %

Citigroup stock traded up $0.23 during trading on Wednesday, reaching $64.92. 3,222,880 shares of the company’s stock were exchanged, compared to its average volume of 14,315,918. The company’s 50-day moving average is $61.79 and its two-hundred day moving average is $62.03. 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 Inc. has a 52-week low of $38.92 and a 52-week high of $67.81. The firm has a market cap of $123.85 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. On average, analysts predict that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.45%. Citigroup’s dividend payout ratio is currently 64.93%.

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.