Denali Advisors LLC Invests $387,000 in Citigroup Inc. (NYSE:C)

Denali Advisors LLC bought a new stake in Citigroup Inc. (NYSE:C) during the 2nd quarter, HoldingsChannel reports. The firm bought 6,100 shares of the company’s stock, valued at approximately $387,000.

A number of other institutional investors have also bought and sold shares of C. POM Investment Strategies LLC bought a new position in shares of Citigroup in the 2nd quarter worth about $25,000. Beacon Capital Management LLC grew its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Triad Wealth Partners LLC bought a new stake in Citigroup in the second quarter worth approximately $32,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $29,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after buying an additional 276 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Finally, BMO Capital Markets upped their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

Citigroup Price Performance

Shares of NYSE:C opened at $59.30 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market cap of $113.10 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The stock’s fifty day simple moving average is $61.54 and its two-hundred day simple moving average is $61.42. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is presently 62.75%.

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.