Norway Savings Bank lowered its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 27.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,336 shares of the company’s stock after selling 4,997 shares during the period. Norway Savings Bank’s holdings in Citigroup were worth $614,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Snider Financial Group lifted its stake in shares of Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after purchasing an additional 84,407,589 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock valued at $1,646,775,000 after buying an additional 519,202 shares during the period. Morgan Stanley raised its holdings in shares of Citigroup by 2.6% during the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after buying an additional 666,560 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Citigroup by 216,016.2% during the 1st quarter. Fisher Asset Management LLC now owns 21,888,245 shares of the company’s stock valued at $1,026,340,000 after buying an additional 21,878,117 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Citigroup by 67.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,411,429 shares of the company’s stock valued at $923,209,000 after buying an additional 8,217,942 shares during the period. Institutional investors and hedge funds own 69.26% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on C. Bank of America boosted their price target on Citigroup from $58.00 to $60.00 in a report on Monday, June 5th. Credit Suisse Group reduced their price target on Citigroup from $54.00 to $50.00 in a research report on Wednesday, May 24th. TheStreet downgraded Citigroup from a “b-” rating to a “c+” rating in a research note on Wednesday, August 30th. BMO Capital Markets dropped their price objective on Citigroup from $64.00 to $62.00 in a research note on Monday, July 17th. Finally, Wells Fargo & Company cut their target price on Citigroup from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.00.
Citigroup Price Performance
NYSE C traded down $0.43 during trading hours on Friday, reaching $42.71. 22,983,163 shares of the company’s stock were exchanged, compared to its average volume of 17,499,189. The stock has a market cap of $83.15 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57. Citigroup Inc. has a one year low of $40.01 and a one year high of $53.23. The firm has a fifty day moving average of $44.15 and a 200-day moving average of $45.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.45.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $19.34 billion. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. Citigroup’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.30 EPS. On average, equities research analysts predict that Citigroup Inc. will post 5.75 earnings per share for the current fiscal year.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.96%. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 4th. Citigroup’s dividend payout ratio (DPR) is presently 33.60%.
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.
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