Levin Capital Strategies L.P. Acquires 93,376 Shares of Citigroup Inc. (NYSE:C)

Levin Capital Strategies L.P. boosted its holdings in Citigroup Inc. (NYSE:C) by 24.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 473,217 shares of the company’s stock after acquiring an additional 93,376 shares during the period. Citigroup accounts for 3.1% of Levin Capital Strategies L.P.’s holdings, making the stock its 5th biggest position. Levin Capital Strategies L.P.’s holdings in Citigroup were worth $30,030,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in C. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the 4th quarter valued at $29,000. Beacon Capital Management LLC increased its position in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in shares of Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the second quarter valued at about $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on C shares. Morgan Stanley raised their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Royal Bank of Canada raised their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. 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, Oppenheimer boosted their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Stock Up 0.8 %

NYSE:C opened at $59.54 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $113.59 billion, a PE ratio of 16.68, a P/E/G ratio of 0.64 and a beta of 1.45. The firm’s 50 day simple moving average is $62.36 and its 200 day simple moving average is $61.32. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. On average, research analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is 62.75%.

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.