First Republic Investment Management Inc. Has $42.20 Million Stake in Citigroup Inc. (NYSE:C)

First Republic Investment Management Inc. raised its position in Citigroup Inc. (NYSE:C – Get Rating) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,012,673 shares of the company’s stock after purchasing an additional 54,905 shares during the period. First Republic Investment Management Inc.’s holdings in Citigroup were worth $42,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. acquired a new stake in shares of Citigroup in the third quarter valued at about $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Citigroup in the third quarter valued at about $28,000. McIlrath & Eck LLC increased its position in shares of Citigroup by 96.6% in the third quarter. McIlrath & Eck LLC now owns 814 shares of the company’s stock valued at $34,000 after acquiring an additional 400 shares during the last quarter. Citizens National Bank Trust Department increased its position in shares of Citigroup by 169.0% in the second quarter. Citizens National Bank Trust Department now owns 780 shares of the company’s stock valued at $36,000 after acquiring an additional 490 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Citigroup in the second quarter valued at about $37,000. Institutional investors and hedge funds own 70.90% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Citigroup from $47.00 to $51.00 in a report on Tuesday, January 17th. Oppenheimer reduced their price target on Citigroup from $87.00 to $83.00 and set an “outperform” rating for the company in a report on Tuesday, January 17th. Bank of America lifted their price target on Citigroup from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 16th. Morgan Stanley reduced their price target on Citigroup from $45.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Citigroup from $49.00 to $49.50 in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Hold” and a consensus target price of $57.42.

Citigroup Trading Up 1.7 %

Shares of C stock opened at $51.98 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.49. The stock has a market cap of $100.68 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.56. The stock has a 50 day simple moving average of $46.94 and a 200 day simple moving average of $47.54. Citigroup Inc. has a 1 year low of $40.01 and a 1 year high of $69.11.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Monday, February 6th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, February 3rd. This represents a $2.04 annualized dividend and a yield of 3.92%. Citigroup’s dividend payout ratio is currently 29.14%.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.