Harvest Fund Management Co. Ltd Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Harvest Fund Management Co. Ltd increased its position in Citigroup Inc. (NYSE:C) by 203.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,755 shares of the company’s stock after buying an additional 1,847 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Citigroup were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. WNY Asset Management LLC lifted its position in Citigroup by 2.7% in the first quarter. WNY Asset Management LLC now owns 8,450 shares of the company’s stock worth $396,000 after buying an additional 225 shares during the last quarter. X Square Capital LLC lifted its position in Citigroup by 3.8% in the first quarter. X Square Capital LLC now owns 6,186 shares of the company’s stock worth $290,000 after buying an additional 226 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in Citigroup by 1.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 23,750 shares of the company’s stock worth $1,074,000 after purchasing an additional 227 shares during the period. Telemus Capital LLC increased its stake in Citigroup by 5.0% in the first quarter. Telemus Capital LLC now owns 4,888 shares of the company’s stock worth $229,000 after purchasing an additional 231 shares during the period. Finally, Sigma Planning Corp increased its stake in Citigroup by 0.9% in the first quarter. Sigma Planning Corp now owns 27,411 shares of the company’s stock worth $1,285,000 after purchasing an additional 232 shares during the period. 69.26% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $42.71 on Friday. The business’s 50-day moving average is $44.15 and its two-hundred day moving average is $45.93. Citigroup Inc. has a 1 year low of $40.01 and a 1 year high of $53.23. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $83.14 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 14th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. The business had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $19.34 billion. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. Research analysts anticipate that Citigroup Inc. will post 5.75 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.96%. The ex-dividend date was Friday, August 4th. This is an increase from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s dividend payout ratio (DPR) is currently 33.60%.

Analysts Set New Price Targets

A number of research firms have weighed in on C. StockNews.com began coverage on Citigroup in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America increased their target price on Citigroup from $58.00 to $60.00 in a research note on Monday, June 5th. Societe Generale lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Keefe, Bruyette & Woods reduced their target price on Citigroup from $50.00 to $48.00 in a research note on Thursday, May 25th. Finally, HSBC began coverage on Citigroup in a research note on Thursday, September 7th. They set a “hold” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.00.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.