Raymond James Financial Inc. Purchases 449,909 Shares of Citigroup Inc. (NYSE:C)

Raymond James Financial Inc. raised its position in Citigroup Inc. (NYSE:C) by 16.0% during the 1st quarter, HoldingsChannel reports. The fund owned 3,266,085 shares of the company’s stock after buying an additional 449,909 shares during the quarter. Raymond James Financial Inc.’s holdings in Citigroup were worth $231,859,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Nuveen LLC bought a new stake in shares of Citigroup during the 1st quarter worth approximately $578,100,000. Capital International Investors raised its stake in shares of Citigroup by 148.6% during the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company’s stock worth $318,507,000 after purchasing an additional 2,704,783 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Citigroup by 13.9% during the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock worth $1,424,169,000 after purchasing an additional 2,467,958 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $96.54.

Citigroup Stock Down 1.9%

C stock opened at $93.66 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $172.42 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.81 and a beta of 1.38. The business’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $77.84. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. Citigroup’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Citigroup’s payout ratio is currently 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

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.