LifePro Asset Management bought a new position in shares of Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 203,299 shares of the company’s stock, valued at approximately $14,383,000. Citigroup accounts for approximately 4.3% of LifePro Asset Management’s investment portfolio, making the stock its 8th largest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in C. Dynamic Advisor Solutions LLC increased its stake in Citigroup by 8.9% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,178 shares of the company’s stock worth $366,000 after acquiring an additional 421 shares during the period. Brighton Jones LLC increased its stake in Citigroup by 18.7% during the 2nd quarter. Brighton Jones LLC now owns 6,879 shares of the company’s stock worth $487,000 after acquiring an additional 1,082 shares during the period. Blume Capital Management Inc. increased its stake in Citigroup by 2.8% during the 2nd quarter. Blume Capital Management Inc. now owns 115,494 shares of the company’s stock worth $8,171,000 after acquiring an additional 3,110 shares during the period. Wakefield Asset Management LLLP boosted its holdings in shares of Citigroup by 1.3% in the 2nd quarter. Wakefield Asset Management LLLP now owns 12,544 shares of the company’s stock valued at $887,000 after purchasing an additional 162 shares in the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of Citigroup by 17.5% in the 2nd quarter. National Asset Management Inc. now owns 47,839 shares of the company’s stock valued at $3,390,000 after purchasing an additional 7,135 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.
Shares of C stock traded up $1.51 during mid-day trading on Wednesday, hitting $70.29. The company’s stock had a trading volume of 761,393 shares, compared to its average volume of 19,533,953. The company’s fifty day simple moving average is $69.90 and its 200-day simple moving average is $72.15. Citigroup Inc. has a 52 week low of $40.49 and a 52 week high of $80.29. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $142.46 billion, a PE ratio of 7.06, a P/E/G ratio of 0.87 and a beta of 1.91.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 2nd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, July 30th. Citigroup’s dividend payout ratio (DPR) is presently 41.80%.
A number of equities research analysts have weighed in on C shares. Wells Fargo & Company raised their target price on Citigroup from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 8th. Credit Suisse Group reduced their target price on Citigroup from $83.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, July 19th. Morgan Stanley raised their target price on Citigroup from $89.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Keefe, Bruyette & Woods initiated coverage on Citigroup in a report on Wednesday, July 7th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Piper Sandler cut their price objective on Citigroup from $95.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, July 15th. Six equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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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