Eqis Capital Management Inc. grew its stake in Citigroup Inc. (NYSE:C) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,501 shares of the company’s stock after buying an additional 1,084 shares during the quarter. Eqis Capital Management Inc.’s holdings in Citigroup were worth $1,733,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Citigroup by 16.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 119,150 shares of the company’s stock worth $8,668,000 after purchasing an additional 16,479 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in Citigroup in the first quarter valued at $36,000. Lincoln National Corp lifted its stake in Citigroup by 7.1% in the first quarter. Lincoln National Corp now owns 21,613 shares of the company’s stock valued at $1,573,000 after acquiring an additional 1,439 shares during the last quarter. AXS Investments LLC acquired a new stake in Citigroup in the first quarter valued at $314,000. Finally, Naples Global Advisors LLC acquired a new stake in Citigroup in the first quarter valued at $274,000. Institutional investors own 75.12% of the company’s stock.
Shares of C opened at $71.18 on Friday. The firm has a market cap of $144.27 billion, a P/E ratio of 7.15, a P/E/G ratio of 0.87 and a beta of 1.91. The stock has a 50 day simple moving average of $70.11 and a two-hundred day simple moving average of $72.08. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 1 year low of $40.49 and a 1 year high of $80.29.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Monday, August 2nd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, July 30th. Citigroup’s payout ratio is 41.80%.
A number of brokerages have commented on C. Wells Fargo & Company increased their price target on shares of Citigroup from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 8th. Credit Suisse Group cut their price target on shares of Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, July 19th. Royal Bank of Canada reissued a “buy” rating and issued a $73.00 price objective on shares of Citigroup in a research report on Wednesday, July 7th. Piper Sandler dropped 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. Finally, Keefe, Bruyette & Woods started coverage on shares of Citigroup in a research report on Wednesday, July 7th. They issued an “outperform” rating and a $85.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Citigroup currently has a consensus rating of “Buy” and an average price target of $79.97.
Citigroup Company 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.
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