Stratos Wealth Partners LTD. Grows Stock Position in Citigroup Inc. (NYSE:C)

Posted by Defense World Staff on Oct 1st, 2023

Stratos Wealth Partners LTD. boosted its stake in Citigroup Inc. (NYSE:C – Free Report) by 19.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 27,651 shares of the company’s stock after purchasing an additional 4,470 shares during the period. Stratos Wealth Partners LTD.’s holdings in Citigroup were worth $1,273,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Snider Financial Group increased its holdings in Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after purchasing an additional 84,407,589 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Citigroup by 1.5% in the first quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock worth $1,646,775,000 after acquiring an additional 519,202 shares in the last quarter. Morgan Stanley grew its stake in shares of Citigroup by 2.6% in the fourth quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock worth $1,169,317,000 after acquiring an additional 666,560 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Citigroup by 216,016.2% in the first quarter. Fisher Asset Management LLC now owns 21,888,245 shares of the company’s stock worth $1,026,340,000 after acquiring an additional 21,878,117 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Citigroup by 67.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,411,429 shares of the company’s stock worth $923,209,000 after acquiring an additional 8,217,942 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.

Citigroup Stock Performance

Shares of C opened at $41.13 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $80.07 billion, a P/E ratio of 6.52, a P/E/G ratio of 1.62 and a beta of 1.57. The company’s fifty day moving average is $43.07 and its two-hundred day moving average is $45.31. Citigroup Inc. has a 1 year low of $39.94 and a 1 year high of $53.23.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $19.34 billion. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. Citigroup’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.30 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 5.73 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a $0.53 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Friday, August 4th. Citigroup’s payout ratio is currently 33.60%.

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. Odeon Capital Group upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $50.51 price target for the company in a research note on Tuesday, July 18th. Piper Sandler lowered their target price on shares of Citigroup from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, September 15th. Morgan Stanley reiterated an “underweight” rating and set a $45.00 target price on shares of Citigroup in a research note on Tuesday, July 18th. Bank of America boosted their price target on shares of Citigroup from $58.00 to $60.00 in a research report on Monday, June 5th. Finally, Royal Bank of Canada reduced their price target on shares of Citigroup from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.50.

Check Out Our Latest Stock Report on Citigroup

Citigroup Profile

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.