Quadrant Capital Group LLC cut its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,629 shares of the company’s stock after selling 332 shares during the quarter. Quadrant Capital Group LLC’s holdings in Citigroup were worth $489,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in C. Russell Investments Group Ltd. grew its holdings in Citigroup by 23.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,370,282 shares of the company’s stock worth $155,177,000 after buying an additional 638,890 shares in the last quarter. Viewpoint Capital Management LLC lifted its position in Citigroup by 2.3% in the second quarter. Viewpoint Capital Management LLC now owns 61,566 shares of the company’s stock worth $2,834,000 after purchasing an additional 1,400 shares during the period. Checchi Capital Advisers LLC lifted its position in Citigroup by 11.5% in the second quarter. Checchi Capital Advisers LLC now owns 14,199 shares of the company’s stock worth $654,000 after purchasing an additional 1,466 shares during the period. Meitav Investment House Ltd. lifted its position in Citigroup by 27.7% in the second quarter. Meitav Investment House Ltd. now owns 31,951 shares of the company’s stock worth $1,474,000 after purchasing an additional 6,925 shares during the period. Finally, YHB Investment Advisors Inc. lifted its position in Citigroup by 1.7% in the second quarter. YHB Investment Advisors Inc. now owns 52,151 shares of the company’s stock worth $2,401,000 after purchasing an additional 886 shares during the period. 69.26% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Citigroup from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, September 20th. HSBC started coverage on Citigroup in a research report on Thursday, September 7th. They set a “hold” rating and a $43.00 price objective for the company. Piper Sandler cut their price objective on Citigroup from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. TheStreet downgraded Citigroup from a “b-” rating to a “c+” rating in a research report on Wednesday, August 30th. Finally, Wells Fargo & Company cut their price objective on Citigroup from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has an average rating of “Hold” and a consensus target price of $51.28.
Citigroup Trading Up 1.5 %
Citigroup stock opened at $45.36 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $86.81 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 2.46 and a beta of 1.55. Citigroup Inc. has a one year low of $38.17 and a one year high of $53.23. The company’s fifty day moving average price is $41.23 and its two-hundred day moving average price is $43.97.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results on Friday, October 13th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Citigroup had a net margin of 9.22% and a return on equity of 6.76%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $19.27 billion. During the same period in the prior year, the company earned $1.50 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.
Citigroup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 33.60%.
Insider Buying and Selling at Citigroup
In related news, insider Andrew John Morton sold 28,096 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $40.66, for a total value of $1,142,383.36. Following the completion of the sale, the insider now owns 410,060 shares in the company, valued at $16,673,039.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.
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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