Levin Capital Strategies L.P. Acquires 93,376 Shares of Citigroup Inc. (NYSE:C)

Levin Capital Strategies L.P. raised its stake in shares of Citigroup Inc. (NYSE:C) by 24.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 473,217 shares of the company’s stock after purchasing an additional 93,376 shares during the period. Citigroup makes up approximately 3.1% of Levin Capital Strategies L.P.’s portfolio, making the stock its 5th biggest holding. Levin Capital Strategies L.P.’s holdings in Citigroup were worth $30,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MONECO Advisors LLC raised its stake in shares of Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares during the last quarter. NorthRock Partners LLC increased its stake in shares of Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the period. Legacy Capital Group California Inc. lifted its stake in Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after acquiring an additional 169 shares during the period. Finally, Gries Financial LLC boosted its holdings in Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after acquiring an additional 176 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on C shares. Argus raised their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Oppenheimer increased their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley increased their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Price Performance

Shares of NYSE C opened at $59.54 on Tuesday. The firm has a market cap of $113.59 billion, a P/E ratio of 16.68, a PEG ratio of 0.64 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a 50 day moving average of $62.36 and a 200 day moving average of $61.32.

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. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. As a group, research analysts expect that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.76%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

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.