SVB Wealth LLC Buys New Stake in Citigroup Inc. $C

SVB Wealth LLC bought a new stake in shares of Citigroup Inc. (NYSE:C) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 16,206 shares of the company’s stock, valued at approximately $1,379,000.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Citigroup in the first quarter worth $367,000. King Luther Capital Management Corp raised its holdings in shares of Citigroup by 0.3% during the first quarter. King Luther Capital Management Corp now owns 189,517 shares of the company’s stock worth $13,454,000 after purchasing an additional 479 shares during the last quarter. SouthState Corp acquired a new position in Citigroup during the first quarter valued at $118,000. Finally, Staley Capital Advisers Inc. boosted its holdings in Citigroup by 0.6% in the first quarter. Staley Capital Advisers Inc. now owns 341,265 shares of the company’s stock valued at $24,226,000 after purchasing an additional 2,183 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C opened at $108.85 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $110.25. The firm has a market capitalization of $194.76 billion, a PE ratio of 15.29, a P/E/G ratio of 0.54 and a beta of 1.21. The business’s 50 day moving average price is $100.22 and its 200-day moving average price is $93.49.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same quarter last year, the firm posted $1.51 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on C shares. Oppenheimer decreased their price objective on Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Piper Sandler boosted their price target on Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Truist Financial raised their price objective on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. The Goldman Sachs Group reissued a “buy” rating and set a $118.00 price target on shares of Citigroup in a report on Tuesday, October 14th. Finally, Cowen reissued a “hold” rating and set a $110.00 target price on shares of Citigroup in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.70.

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.