Central Asset Investments & Management Holdings HK Ltd Purchases 6,610 Shares of Citigroup Inc. (NYSE:C)

Central Asset Investments & Management Holdings HK Ltd increased its position in shares of Citigroup Inc. (NYSE:C) by 41.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,610 shares of the company’s stock after purchasing an additional 6,610 shares during the period. Citigroup comprises about 0.5% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 21st largest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Citigroup were worth $1,435,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. POM Investment Strategies LLC bought a new position in Citigroup during the second quarter worth about $25,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup during the 4th quarter worth approximately $29,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup in the second quarter valued at $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. BMO Capital Markets upped their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer lifted their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Piper Sandler raised their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Stock Performance

Shares of Citigroup stock opened at $59.30 on Wednesday. The firm has a fifty day moving average of $61.54 and a two-hundred day moving average of $61.42. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $113.10 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.78%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 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.