Fifth Third Wealth Advisors LLC Purchases New Stake in Citigroup Inc. (NYSE:C)

Fifth Third Wealth Advisors LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,559 shares of the company’s stock, valued at approximately $1,305,000.

Several other hedge funds and other institutional investors also recently modified their holdings of C. MONECO Advisors LLC boosted its position in Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after purchasing an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares during the period. NorthRock Partners LLC grew its stake in Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after acquiring an additional 169 shares during the period. Finally, Family Legacy Inc. raised its holdings in Citigroup by 2.9% in the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after acquiring an additional 179 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 1.3 %

NYSE:C traded down $0.77 on Wednesday, reaching $60.54. The company’s stock had a trading volume of 14,411,254 shares, compared to its average volume of 14,893,927. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The business’s 50-day moving average price is $62.32 and its two-hundred day moving average price is $60.66. The firm has a market cap of $115.48 billion, a PE ratio of 16.96, a PEG ratio of 0.68 and a beta of 1.46. 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 released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share 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 company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.56 dividend. 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 dividend on an annualized basis and a dividend yield of 3.70%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on C shares. Evercore ISI upped their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley lifted their target price on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Oppenheimer raised their price target on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Argus lifted their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup 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.