Franklin Resources Inc. Increases Holdings in Citigroup Inc. (NYSE:C)

Franklin Resources Inc. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,027,213 shares of the company’s stock after acquiring an additional 4,680,713 shares during the period. Franklin Resources Inc. owned 1.59% of Citigroup worth $1,998,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of C. POM Investment Strategies LLC acquired a new stake in shares of Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup in the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the 3rd quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler boosted their target price on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI boosted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.63.

Citigroup Price Performance

Shares of NYSE C opened at $71.44 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market cap of $135.10 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.80 and a beta of 1.45. The stock has a 50 day moving average of $67.11 and a two-hundred day moving average of $63.60. Citigroup Inc. has a twelve month low of $47.86 and a twelve month high of $73.38.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the firm posted $1.52 EPS. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

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.