Norway Savings Bank decreased its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 27.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,336 shares of the company’s stock after selling 4,997 shares during the quarter. Norway Savings Bank’s holdings in Citigroup were worth $614,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in C. Capital Investment Advisors LLC boosted its position in shares of Citigroup by 0.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 243,531 shares of the company’s stock valued at $11,212,000 after acquiring an additional 1,316 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Citigroup by 2.4% during the second quarter. Brookstone Capital Management now owns 305,874 shares of the company’s stock worth $13,991,000 after buying an additional 7,128 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Citigroup by 13.5% during the second quarter. Kathmere Capital Management LLC now owns 7,420 shares of the company’s stock worth $342,000 after buying an additional 880 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Citigroup by 46.7% during the second quarter. Gradient Investments LLC now owns 6,254 shares of the company’s stock worth $288,000 after buying an additional 1,991 shares during the last quarter. Finally, Allied Investment Advisors LLC increased its stake in Citigroup by 21.9% in the second quarter. Allied Investment Advisors LLC now owns 5,335 shares of the company’s stock valued at $246,000 after purchasing an additional 960 shares in the last quarter. Institutional investors own 69.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on C. Societe Generale lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Morgan Stanley reissued an “underweight” rating and issued a $45.00 price objective on shares of Citigroup in a research report on Tuesday, July 18th. TheStreet downgraded shares of Citigroup from a “b-” rating to a “c+” rating in a report on Wednesday, August 30th. StockNews.com began coverage on shares of Citigroup in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler dropped their price objective on shares of Citigroup from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Hold” and a consensus target price of $53.00.
Citigroup Trading Down 1.0 %
Shares of Citigroup stock traded down $0.43 on Friday, hitting $42.71. The stock had a trading volume of 22,983,163 shares, compared to its average volume of 17,499,189. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. Citigroup Inc. has a one year low of $40.01 and a one year high of $53.23. The stock has a market cap of $83.15 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 1.66 and a beta of 1.57. The stock’s 50-day simple moving average is $44.15 and its two-hundred day simple moving average is $45.89.
Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter in the previous year, the business posted $2.30 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 5.75 EPS for the current year.
Citigroup Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a dividend of $0.53 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, August 4th. Citigroup’s payout ratio is currently 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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