Miracle Mile Advisors LLC Has $2.20 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Miracle Mile Advisors LLC boosted its position in shares of Citigroup Inc. (NYSE:C) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 34,665 shares of the company’s stock after purchasing an additional 194 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Citigroup were worth $2,200,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of C. Kentucky Retirement Systems lifted its stake in shares of Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock valued at $7,877,000 after purchasing an additional 3,808 shares during the period. TD Asset Management Inc raised its stake in Citigroup by 21.8% during the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after buying an additional 173,137 shares during the period. Lloyd Advisory Services LLC. raised 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 worth $1,209,000 after buying an additional 14,922 shares during the period. Natixis Advisors L.P. raised its stake in Citigroup by 46.3% during the 4th quarter. Natixis Advisors L.P. now owns 1,481,614 shares of the company’s stock worth $76,213,000 after buying an additional 469,142 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Citigroup by 12.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 213,153 shares of the company’s stock worth $10,965,000 after buying an additional 23,998 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C traded up $0.88 during mid-day trading on Friday, hitting $61.40. The stock had a trading volume of 9,939,926 shares, compared to its average volume of 14,974,501. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market cap of $117.12 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.68 and a beta of 1.46. The company’s 50 day simple moving average is $62.25 and its 200 day simple moving average is $60.52. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94.

Citigroup (NYSE:C) last issued 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. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period last year, the business posted $1.37 EPS. Citigroup’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.65%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Analysts Set New Price Targets

C has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler increased their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Oppenheimer increased their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI increased their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada increased their target price on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.