Gateway Investment Advisers LLC lessened its stake in Citigroup Inc. (NYSE:C – Free Report) by 92.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,688 shares of the company’s stock after selling 98,091 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Citigroup were worth $488,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Citigroup by 18.4% during the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after buying an additional 4,620,867 shares during the period. Fisher Asset Management LLC grew its stake in shares of Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after buying an additional 1,836,283 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after buying an additional 1,300,520 shares during the period. Finally, Norges Bank acquired a new position in shares of Citigroup in the fourth quarter worth $867,599,000. Institutional investors and hedge funds own 71.72% of the company’s stock.
Citigroup Stock Down 0.3 %
C stock traded down $0.16 during mid-day trading on Friday, hitting $57.84. 11,421,029 shares of the company were exchanged, compared to its average volume of 15,077,447. The company has a market capitalization of $110.33 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 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 firm has a fifty day simple moving average of $62.48 and a 200 day simple moving average of $60.37.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.
Analyst Ratings Changes
C has been the subject of several research reports. 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. Morgan Stanley boosted their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Oppenheimer upped their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.
Get Our Latest Stock Analysis on Citigroup
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.
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Source: defenseworld.net
