Allspring Global Investments Holdings LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Allspring Global Investments Holdings LLC grew its position in Citigroup Inc. (NYSE:C) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,852,418 shares of the company’s stock after acquiring an additional 51,899 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Citigroup worth $117,554,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after buying an additional 250,716 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Citigroup in the 2nd quarter valued at approximately $2,616,000. Addison Capital Co acquired a new position in shares of Citigroup in the second quarter valued at approximately $217,000. Highland Capital Management LLC increased its holdings in shares of Citigroup by 2.9% in the second quarter. Highland Capital Management LLC now owns 195,731 shares of the company’s stock valued at $12,421,000 after purchasing an additional 5,427 shares during the period. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Citigroup by 93.2% during the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after purchasing an additional 276 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $61.79 on Tuesday. The firm’s 50-day moving average is $62.41 and its two-hundred day moving average is $60.85. The company has a market capitalization of $117.86 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on C shares. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods increased their target price on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

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.