EP Wealth Advisors LLC Acquires 2,510 Shares of Citigroup Inc. (NYSE:C)

EP Wealth Advisors LLC increased its holdings in Citigroup Inc. (NYSE:C) by 21.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,029 shares of the company’s stock after buying an additional 2,510 shares during the period. EP Wealth Advisors LLC’s holdings in Citigroup were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in C. Raymond James Financial Services Advisors Inc. increased its holdings in Citigroup by 0.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 551,556 shares of the company’s stock valued at $28,372,000 after buying an additional 3,527 shares during the period. Pacer Advisors Inc. boosted its position in shares of Citigroup by 1.3% during the 4th quarter. Pacer Advisors Inc. now owns 125,656 shares of the company’s stock worth $6,464,000 after acquiring an additional 1,611 shares in the last quarter. Planned Solutions Inc. bought a new position in Citigroup in the fourth quarter valued at approximately $94,000. WASHINGTON TRUST Co raised its position in Citigroup by 112.2% during the fourth quarter. WASHINGTON TRUST Co now owns 3,644 shares of the company’s stock valued at $187,000 after purchasing an additional 1,927 shares in the last quarter. Finally, Successful Portfolios LLC bought a new stake in Citigroup during the fourth quarter worth $210,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 1.3 %

Shares of NYSE:C traded up $0.81 during trading on Friday, reaching $65.18. The stock had a trading volume of 9,348,071 shares, compared to its average volume of 14,884,604. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The firm’s fifty day moving average is $63.03 and its 200 day moving average is $59.69. The stock has a market cap of $124.33 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.69 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 announced its quarterly earnings data 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 firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc. will post 5.84 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on C shares. Evercore ISI increased their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Royal Bank of Canada raised their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley boosted their price objective on Citigroup from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, HSBC increased their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.25.

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.