New York Life Investment Management LLC Buys 3,170 Shares of Citigroup Inc. (NYSE:C)

New York Life Investment Management LLC grew its stake in shares of Citigroup Inc. (NYSE:C) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 292,248 shares of the company’s stock after purchasing an additional 3,170 shares during the period. New York Life Investment Management LLC’s holdings in Citigroup were worth $18,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC bought a new stake in shares of Citigroup during the fourth quarter worth about $29,000. Beacon Capital Management LLC raised its holdings in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in Citigroup by 1,962.1% in the 4th 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 in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup during the 2nd quarter valued at about $32,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 2.6 %

C stock opened at $59.08 on Friday. The stock has a fifty day moving average of $62.44 and a 200-day moving average of $61.21. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a market capitalization of $112.69 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.68 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping 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 firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter last year, the business earned $1.37 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.79%. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Evercore ISI raised their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Oppenheimer upped their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Morgan Stanley boosted their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Company 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.