Pinnacle Wealth Management Advisory Group LLC Boosts Holdings in Citigroup Inc. (NYSE:C)

Pinnacle Wealth Management Advisory Group LLC raised its position in Citigroup Inc. (NYSE:C) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,429 shares of the company’s stock after acquiring an additional 1,175 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Citigroup were worth $879,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Factorial Partners LLC increased its holdings in shares of Citigroup by 7,127.8% in the 1st quarter. Factorial Partners LLC now owns 5,565,375 shares of the company’s stock valued at $76,500,000 after acquiring an additional 5,488,375 shares during the period. BlackRock Inc. increased its stake in Citigroup by 2.9% in the 1st quarter. BlackRock Inc. now owns 160,204,580 shares of the company’s stock valued at $11,654,883,000 after buying an additional 4,464,991 shares during the period. Morgan Stanley increased its stake in Citigroup by 21.6% in the 1st quarter. Morgan Stanley now owns 23,410,089 shares of the company’s stock valued at $1,703,086,000 after buying an additional 4,162,277 shares during the period. Duquesne Family Office LLC acquired a new position in Citigroup in the 1st quarter valued at $154,587,000. Finally, Ninety One UK Ltd boosted its position in shares of Citigroup by 29.1% during the 1st quarter. Ninety One UK Ltd now owns 9,299,264 shares of the company’s stock worth $676,521,000 after purchasing an additional 2,095,661 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Shares of NYSE C opened at $68.78 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average is $69.90 and its two-hundred day moving average is $72.15. The company has a market cap of $139.40 billion, a P/E ratio of 6.91, a P/E/G ratio of 0.87 and a beta of 1.91. Citigroup Inc. has a 12 month low of $40.49 and a 12 month high of $80.29.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 13th. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.91. The company had revenue of $17.50 billion for the quarter, compared to the consensus estimate of $17.18 billion. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Sell-side analysts expect that Citigroup Inc. will post 9.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Monday, August 2nd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, July 30th. Citigroup’s dividend payout ratio is currently 41.80%.

Several research firms recently commented on C. Piper Sandler decreased their price objective on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, July 15th. Credit Suisse Group lowered their price objective on shares of Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, July 19th. Wells Fargo & Company increased their target price on Citigroup from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 8th. Morgan Stanley raised their price objective on Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $73.00 price target on shares of Citigroup in a report on Wednesday, July 7th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Buy” and an average target price of $79.97.

Citigroup Profile

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

See Also: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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