Victory Capital Management Inc. Has $133.36 Million Stock Position in Citigroup Inc. (NYSE:C)

Victory Capital Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,101,510 shares of the company’s stock after selling 41,445 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Citigroup worth $133,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the period. Norges Bank acquired a new position in shares of Citigroup during the fourth quarter worth approximately $867,599,000. Bank of New York Mellon Corp lifted its holdings in shares of Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after purchasing an additional 4,620,867 shares in the last quarter. Swedbank AB acquired a new stake in Citigroup in the 1st quarter valued at $253,286,000. Finally, Caxton Associates LP increased its stake in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Evercore ISI raised their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Oppenheimer upped their price target on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Morgan Stanley raised their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $68.06.

Citigroup Stock Performance

Shares of C stock opened at $59.08 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $112.69 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.68 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The firm’s 50-day simple moving average is $62.44 and its two-hundred day simple moving average is $61.21.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. Citigroup’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.79%. Citigroup’s dividend payout ratio is presently 62.75%.

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.