Lincoln National Corp Raises Position in Citigroup Inc. (NYSE:C)

Lincoln National Corp lifted its stake in shares of Citigroup Inc. (NYSE:CGet Rating) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,307 shares of the company’s stock after purchasing an additional 2,083 shares during the period. Lincoln National Corp’s holdings in Citigroup were worth $929,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Horan Securities Inc. boosted its holdings in Citigroup by 18.0% in the 2nd quarter. Horan Securities Inc. now owns 1,269 shares of the company’s stock worth $64,000 after buying an additional 194 shares during the period. Zullo Investment Group Inc. boosted its holdings in Citigroup by 5.3% in the 2nd quarter. Zullo Investment Group Inc. now owns 3,839 shares of the company’s stock worth $177,000 after buying an additional 194 shares during the period. Rise Advisors LLC boosted its holdings in Citigroup by 30.6% in the 2nd quarter. Rise Advisors LLC now owns 846 shares of the company’s stock worth $39,000 after buying an additional 198 shares during the period. Founders Capital Management boosted its holdings in Citigroup by 28.6% in the 2nd quarter. Founders Capital Management now owns 900 shares of the company’s stock worth $41,000 after buying an additional 200 shares during the period. Finally, Clearview Wealth Advisors LLC boosted its holdings in Citigroup by 11.7% in the 2nd quarter. Clearview Wealth Advisors LLC now owns 1,979 shares of the company’s stock valued at $91,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Analyst Ratings Changes

C has been the subject of several analyst reports. BMO Capital Markets cut their price target on shares of Citigroup from $76.00 to $71.00 and set an “outperform” rating for the company in a report on Monday, October 17th. Bank of America raised their price target on shares of Citigroup from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 16th. Oppenheimer cut their price target on shares of Citigroup from $87.00 to $83.00 and set an “outperform” rating for the company in a report on Tuesday, January 17th. Barclays raised their price target on shares of Citigroup from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of 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 assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $57.42.

Citigroup Price Performance

C stock opened at $51.42 on Wednesday. Citigroup Inc. has a 1 year low of $40.01 and a 1 year high of $69.11. The company has a market cap of $99.59 billion, a P/E ratio of 7.35, a PEG ratio of 1.68 and a beta of 1.56. The firm has a 50-day moving average of $46.99 and a 200 day moving average of $47.58. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.94 and a quick ratio of 0.93.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Monday, February 6th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, February 3rd. Citigroup’s 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.

Further Reading

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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