Legacy Capital Group California Inc. Has $1.05 Million Stock Position in Citigroup Inc. (NYSE:C)

Legacy Capital Group California Inc. boosted its stake in Citigroup Inc. (NYSE:C) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,596 shares of the company’s stock after acquiring an additional 169 shares during the period. Legacy Capital Group California Inc.’s holdings in Citigroup were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in C. Price T Rowe Associates Inc. MD boosted its holdings in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Norges Bank bought a new position in Citigroup during the fourth quarter worth $867,599,000. Bank of New York Mellon Corp grew its holdings in Citigroup by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Swedbank AB bought a new stake in Citigroup in the first quarter valued at $253,286,000. Finally, Caxton Associates LP raised its holdings in shares of Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on C shares. Evercore ISI upped their price objective 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. Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. BMO Capital Markets lifted their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer increased their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods raised their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Trading Down 1.2 %

Shares of Citigroup stock traded down $0.72 during midday trading on Tuesday, reaching $61.31. 8,660,713 shares of the company’s stock traded hands, compared to its average volume of 14,896,970. The stock has a 50 day moving average of $62.31 and a 200-day moving average of $60.66. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a market cap of $116.95 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.68 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 released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 5.85 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 issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.65%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Citigroup Profile

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.